Podcasts

Live steer prices set a record | Weekly Livestock Market Update

Brownfield's Meghan Grebner and Mississippi State University's Josh Maples look at live steer prices, jobs, and GDP in this episode of the Weekly Livestock Market Update. Market highlights: Live steer prices averaged $221.94/cwt for the 5-market average which was up $5.62 from a week ago. The June live cattle futures contract was up $3.18 from a week ago to $211.43/cwt, and the May feeder cattle futures price was up $4.36 per cwt on the week to $294.88. Choice box beef was at $344.48 at the end of this week, which is up $11 from last week. Cash hogs were up $1.62 to $88.21/cwt. February lean hog futures were up 15 cents to $92.95/cwt on the week. The pork cutout value was up $3.39 from a week ago, to $99.42/cwt this week.   Weekly Slaughter: At the end of the week, cattle slaughter was 559,000 head, up 4,000 head from last week, and down 62,000 head from the same week last year. Hog slaughter was 2.49 million head, up 2 percent or 56,000 from the previous week and up 83,000 head (3 percent) compared to year ago.   Cattle Prices: The 5-area live cattle price hit $221.94 on Friday, a record high. This week had 3 of the highest daily price averages on record. 500-600 pound steers in Oklahoma City averaged $365 per cwt this week. 700-800 pound steers were at $286. These are really strong prices for cattle amid really tight supplies.   Jobs Report and Quarterly GDP: The latest job report showed nonfarm employment increased by 177,000 jobs during April. This was lower than in March but higher than was expected pre-report. The unemployment rate remained at 4.2 percent and the labor-force participation rate was 62.6 percent. This report represents data collected during April.   The Commerce Department released their initial GDP estimate for the first quarter last week. The report showed an estimated decline in gross domestic product (GDP) declined 0.3 percent during the first 3 months of 2025. This is the lowest quarterly rate since early 2022 and was below pre-report estimates. GDP is the total value of products and services.   Importantly, imports are subtracted from GDP. Imports of products were very high in the first quarter of 2025, an increase of 41.3 percent, as consumers, distributors, etc., tried to get purchases in ahead of the tariffs being implemented. The subtraction of these large levels of imports was the primary contributor to the low GDP number. Consumer spending declined from the 4th quarter of 2024 but was still relatively strong.   Next Week’s Reports: ERA Monthly Trade Data Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

March placements were up 5% in latest Cattle on Feed report | Weekly Livestock Market Update

On this episode of Weekly Livestock Market Update, Brownfield's Meghan Grebner talks with University of Kentucky ag economist Kenny Burdine about March placements being up 5% in the latest Cattle on Feed report. Market highlights: The 5-market average fed steer price was up by just under $4 this week at $211.62. April live cattle futures gained over $7 from last week, settling Thursday at $209.83. Choice boxed beef price was actually down more than $5 on the week, coming in at $331.52. May feeder cattle futures were up more than $8 per cwt on the week, closing at $286.85 yesterday. The national base hog carcass price was down by a little more than $1 at $84.13 for the week. Pork cutout values were up about 6% for the week at $97.97. May lean hog futures were up 4% this week, closing at $90.40 yesterday. Weekly Slaughter: Cattle slaughter was 2% higher this week, estimated at 576,000 head for the week, but still over 5% below last year, year-to-date. Hog slaughter was down 4% from last week at 2.38 million head and that’s down about 3% year-to-date. April Cattle on Feed: On feed inventory came in about 1.6% below year-ago, which was close to pre-report expectations. March marketings were 1% higher than March of 2024. March placements were up 5% from 2024, which was on the upper end of pre-report estimates. Steers on feed were essentially unchanged from last year, while USDA-NASS estimated a 4% decrease in the number of heifers on feed. Heifers as a percentage of on-feed inventory came in a 37.6%. This is about a percent lower than both January 1 of this year and April 1 of 2024. Next week’s reports: » Livestock Slaughter » Cold Storage Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Another strong week for the cattle markets | Weekly Livestock Market Update

On this episode of Weekly Livestock Market Update, Brownfield's Meghan Grebner talks with University of Kentucky ag economist Kenny Burdine about cold storage and Quarterly Hogs and Pigs. Market highlights: The 5-market average fed steer price was up slightly this week to $212.95 for today. April live cattle futures gained almost $2 on the week, closing Friday at $208.93. Choice boxed beef price improved by over $8 per cwt, coming in at $333.83. April feeder cattle futures were up $1.85 on the week closing at $286.83 today. The national base hog carcass price was virtually unchanged at $86.90 for the week. Pork cutout values were up $0.32 at $96.56 per cwt today. April lean hog futures were up 1% this week, closing at $86.80 today. Weekly Slaughter: Cattle slaughter was sharply higher this week, estimated at 609,000 head for the week, but still over 5% below last year, year-to-date. Hog slaughter was also a bit higher, estimated at 2.48 million head for the week. Hog slaughter is also down thus far in 2025 by 3.7%. Calf slaughter continues to run low, down roughly 35% year-over-year. Beef cow slaughter has been running about 20% below 2024 levels. Cold Storage: February frozen beef supplies were down 6% from January and down 2% from February 2024. Frozen pork supplies were up 4% from January, but down 8% from last year. Frozen chicken supplies were pretty steady – 1% below January and 1% of last February. The supply of bellies was actually up 17% from January, but 24% lower than last year. Frozen veal supplies also stood out, down 18% year over year. Quarterly Hogs and Pigs: Most pre-report estimates pointed to higher inventories, but hog and pig inventories were steady to slightly lower from year-ago. March 1, all hogs and pigs were down about 0.2%. Market inventory was down by about the same, but March 2024 market inventory was revised downward. Breeding inventory was down by about 0.6% Next week’s reports: » Prospective Plantings Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Placements drop 18% in latest Cattle on Feed report | Weekly Livestock Market Update

On this episode of Weekly Livestock Market Update, Brownfield's Meghan Grebner talks with Mississippi State University ag economist Josh Maples about cattle on feed, livestock slaughter, and the reinstatement of an important USDA cattle report. Market highlights: Live steer prices ended the week at 209.15/cwt for the 5-market average which was up $3.85 from a week ago. The April live cattle futures contract was up $4.05 from a week ago to $207.23/cwt, and the April feeder cattle futures price was up 4.50 per cwt on the week to $285.70. Choice box beef was at $325.52 at the end of this week, which is up $5.95 from last week. Cash hogs were down 19 cents to $87.07/cwt. February lean hog futures were down 58 cents to $86.05/cwt on the week. The pork cutout value was down 77 cents from a week ago, to $96.24/cwt this week. Weekly Slaughter: At the end of the week, cattle slaughter was 560,000 head, down 4 percent or 24,000 head from last week, and down 33,000 head from the same week last year. Hog slaughter was 2.428 million head, down 3 percent or 81,000 from the previous week and down 93,000 head (4 percent) compared to year ago. Cattle on Feed: The February Cattle on Feed report was released on Friday and showed lower numbers across the board. The total inventory of cattle on feed in feedlots with 1,000 or more head capacity on March 1 was estimated at 11.6 million head. This was down 2% from compared to March 1, 2024. Placements during February dropped sharply, down 18 percent from February 2024. Fed cattle marketed during February totaled 1.6 million head. This was 9 percent below February 2024. Placements were lower in every reported state except for Washington. The largest year-over-year decline in placements occurred in Kansas (100,000 head fewer or down 22 percent), Texas (95,000 head fewer or down 27 percent), and Nebraska (65,000 head fewer or down 13 percent). The decline in placements was not unexpected. Pre-report estimates showed an expectation of a 15 percent decline. While the number of cattle available to place is certainly part of the story, the winter storms in 2024 caused irregular placement shifts last year which contributes to the year-over-year comparisons to being so large. There was also an extra day in February 2024 due to the leap year. Livestock Slaughter: The monthly Livestock Slaughter report was released by USDA-NASS on Thursday. The report showed February cattle slaughter totaled 2.3 million head which was 11 percent lower than in February 2024. Cattle weights were again a key point in this report and the average live weight was up to 1,432 pounds which is 48 pounds above a year ago. The report showed February hog slaughter totaled 10.2 million head which was 7 percent lower than in February 2024. The average hog weight was up 1 pound from February 2024. The return of the July Cattle Inventory Report: Josh and Meghan talk about the importance of USDA's announcement that the July Cattle Inventory and County Estimate reports would return. Next week's report: » Cold Storage Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Beef retail price continues to rise | Weekly Livestock Market Update

Meghan Grebner and Charley Martinez break down what’s happening with retail prices and export sales. They also preview next week's Cattle on Feed report. Market highlights: Live cattle prices close $200/cwt which is 28 cents down from last week. April live cattle prices ($200.35) were up 8 cents compared to a week ago, and March feeder cattle future prices ($277.58) were up 60 cents compared to last week. Choice box beef was at $319.57 end of this week, which is up 2% from last week. Select box beef was at $307.03 end of this week, which is up 1% from last week. Pork Cutout was $97.01, which is down 1% from last week. National Base Hog Carcass was up to $87.40, which is 2 cents higher than last week. April lean hog futures closed at $87.23 which is down 12 cents from a week ago. Weekly Slaughter: At the end of the week, cattle slaughter was 585,000 head, up 7000 from last week, but down 12,400 compared to a year ago. Hog slaughter was 2.43 million head, up 16,000 from the previous week and down 23,000 compared to year ago. Meat Price Spreads (3/12/25): In February, all fresh retail beef price increased to $8.31/lb, which is up from $8.15/lb in January. To put February’s price into perspective, these data have been recorded and reported in a dataset that goes back to July 1987, at which time the all fresh retail beef price was $2.13/lb. The price in February, is the highest monthly price to date in the dataset. In February 2024, the all fresh beef retail price was $7.83/lb, and the previous 5-year average was $6.48/lb. Additionally, through the summer months, prices got up to $8.20/lb in September. Thus, 2025 has already surpassed that threshold, and given seasonal trend expectations, one could expect price to continue to increase to new highs in 2025. In February, retail pork price was $4.83/lb, which was down from $4.94/lb in January. The price in February, is the highest monthly price to date in the dataset. In February 2024, the retail pork price was $4.76/lb, and the previous 5-year average was $4.25/lb. Historically, price increases up to September and then decreases. Next months report will let up know if this trend holds. Weekly Export Sales (3/13/2025): Beef: Net sales- 14,300 MT-up 7% from the previous week, but down 13% from the prior 4-week average. Exports of 15,900 MT were up 21% from the previous week and 12% from the prior 4-week average. The destinations were primarily to South Korea (4,400 MT), Japan (4,400 MT), China (2,500 MT), Mexico (1,700 MT), and Taiwan (900 MT). Pork: Net sales- 20,300 MT for 2025--a marketing-year low--were down 52% from the previous week and 35% from the prior 4-week average. Exports of 33,600 MT were up 4% from the previous week and 5% from the prior 4-week average. The destinations were primarily to Mexico (11,200 MT), South Korea (5,900 MT), Japan (4,700 MT), Colombia (2,800 MT), and China (2,600 MT). Next week’s reports » Cattle on Feed » Livestock Slaughter Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

April live cattle gain $7.70 this week | Weekly Livestock Market Update

On this episode of Weekly Livestock Market Update, Brownfield's Meghan Grebner talks with Mississippi State University ag economist Josh Maples about April live cattle gaining $7.70 this week. Market highlights: Live steer prices ended the week at $196.90/cwt for the 5-market average which was down 75 cents from a week ago. The April live cattle futures contract was up sharply to $200.35 per cwt which is $7.70 higher than a week ago, and the March feeder cattle futures price was up $2.60 per cwt on the week to $277.58. Choice box beef was at $314.07 at the end of this week, which is up $1.28 from last week. Cash hogs were up 33 cents to $87.48/cwt. February lean hog futures were up $3.55 per cwt to $87.23 on the week. Pork cutout values were down 24 cents from a week ago, to $97.78/cwt this week. Weekly Slaughter: At the end of the week, cattle slaughter was 578,000 head, up 2 percent or 12,000 head from last week, and down 6,000 head from the same week last year. Hog slaughter was 2.418 million head, down 120,000 from the previous week and down 22,000 head compared to year ago. Futures Market Movements and Risk Management: There was lots of movement in futures prices this week. The May feeder cattle futures contract was as low $265 at one point on Tuesday up to nearly $279 during Friday’s trading. Simply put, prices are high but there is a lot of volatility. Risk management tools such as futures contracts or Livestock Risk Protection are worth checking out this year, especially as producers get a handle on what their calf crop will look like this year.     U.S. and Canada Cattle and Sheep Report: USDA-NASS released their annual United States and Canadian Cattle and Sheep report on Wednesday this week. This report includes estimates of all cattle and calves on January 1, 2025. We’ve already dug into the U.S. numbers a few weeks ago, but I thought we’d take an opportunity to look at the Canadian numbers this week which USDA sources from Statistics Canada. Total cattle and calves in Canada on January 1 equaled 10.94 million head which compares to 86.66 million head in the U.S. This was a 1 percent decline in Canada from a year ago and includes 3.38 million beef cows and 962 thousand milk cows. The number of beef cows in Canada is down about 330 thousand head since 2021. One statistic that jumps out a bit is that heifers held for beef cow replacement in Canada increased 1 percent from 2024 to 2025 while this number in the U.S. decreased 1 percent. This suggests more heifer retention for expansion in Canada than is occurring in U.S. so far, at least on a percentage basis. On the sheep side, the report showed 806 thousand head of sheep in lambs in Canada on January 1, 2025 compared to 5.05 million head in the U.S. Broiler Hatchery Report: The Broiler Hatchery report was released by USDA this week and showed 251.5 million broiler-type eggs were set. This is up nearly 1 million from a week ago and up 3 percent higher than a year ago. 191 million broiler chicks were placed into meat production. This is up 455,000 chicks from a week ago and is 2 percent larger than last year. These data suggest larger broiler production in 2025 which matches with the more than one percent increase the February WASDE showed for 2025 over 2024. Next Week's Report » Supply and Demand Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Feeder cattle futures gained $7 on the week | Weekly Livestock Market Update

On this episode of Weekly Livestock Market Update, Brownfield's Meghan Grebner talks with University of Kentucky ag economist Kenny Burdine about cold storage and trade. Market highlights: The 5-market average fed steer price was down by about $1.50 this week, averaging $198 as of Friday morning. Volume was light, but the live cattle board was down today. February live cattle futures prices were virtually unchanged, closing Friday at $197.73. Choice boxed beef price improved by about $1 per cwt, coming in just under $312. March feeder cattle futures prices gained $7 from last week and closed today at $274.90. The national base hog carcass price was off by less than $1 at $86.81 for the week. Pork cutout values were essentially unchanged at $99.02 per cwt. April lean hog futures were down this week, losing almost $4 and closing today at $84.07. Weekly Slaughter: Cattle slaughter was estimated down 0.5% from last week at 566,000 head. That remains down pretty sharply year-to-date. Hog slaughter was virtually flat with last week at 2.54 million head, but also down pretty sharply year-to-date. Another item is interest is calf slaughter, which is down more than 30% year-over-year to date. Cold Storage: January frozen beef supplies up 3% from December, but essentially unchanged from January 2024. Frozen pork supplies up 3% from December, but down 11% from last year. Bellies remain one of the more interesting items in the report – up 24% from last month, but 39% below last year Other notes: Last weekly data on live cattle imports from Mexico were from the third week of February. For perspective, this quantity was about 26% of the average during 2024. Tariff uncertainties continue – the potential for retaliatory tariffs remains and uncertainty in the market. Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Cattle placements up almost 2% on the year | Weekly Livestock Market Update

Meghan Grebner and Charley Martinez break down what’s happening in the livestock market, from cattle and hog prices to slaughter numbers and weather impacts. They chat about seasonal trends, herd dynamics, and what might be coming next. Market highlights: Live cattle prices close $2.03 higher than last week at $209.98/cwt. February live cattle prices ($197.70) were down 3 cents compared to a week ago, and March feeder cattle future prices were up 77 cents on the week to $267.85. Choice box beef was at $310.77 end of this week, which is down (1.2%) from $314.70 last week. Pork Cutout was down to $98.14, which is down 4% from the previous week. National Base Hog Carcass was up to $86.49, which is .46% higher than last week, which was $86.09. April lean hog futures close at $87.67, which is down $4.93 (-5.62%) from a week ago. Weekly Slaughter: At the end of the week, cattle slaughter was 554,000 head, down 7000 from last week, but down 34,850 compared to a year ago. Hog slaughter was 2.53 million head, down 26,000 from the previous week and down 24,000 compared to year ago. Slaughter Report (2/20/25): Commercial red meat production for the United States totaled 4.89 billion pounds in January, up 2% from 4.77 billion pounds in January 2024. Beef production- 2.37 billion pounds (4% higher than Jan 2024). Cattle slaughter totaled 2.72 million head (down 1% compared to Jan 2024). The average live weight was 1,439 lbs., which is up 50 pounds compared to 2024. Pork production- 2.50 billion pounds (1% higher than Jan 2024). Hog slaughter totaled 11.5 million head (1% higher than Jan 2024). The average live weight was 293 lbs., which is 1 pound higher than Jan 2024. Cattle On Feed (2/21/2025): » 11.7 million head (down approx. 1% compared to Feb 2024) » Placements were 1.82 million head (1.73% higher than Feb 2024) » Marketings were 1.86 million head (1.41% higher than Feb 2024) Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

USDA raises beef production 3% | Weekly Livestock Market Update

On this episode of Weekly Livestock Market Update, Brownfield's Meghan Grebner talks with University of Kentucky ag economist Kenny Burdine about supply and demand, consumer prices, and some risk management. Market highlights: » The 5-market average fed steers price was down over $4 per cwt for the week at  $202.73. » February live cattle futures prices were also down by roughly $3, closing at $197.73 today. » Choice boxed beef slid about $7 to $314.70 this week. Select boxed beef fell by about $5 to $307.14. » March feeder cattle future prices were actually $2 higher this week at $267.08 » National base hog carcass price was 3% higher at $86.09 for the week » February lean hog futures were $2 higher on the week, closing today at $89.48 » Pork cutout values were also higher, by about $5, trading at $102.21 for the week   Weekly Slaughter: » Cattle slaughter was estimated down almost 4% for the week at 561,000 head. That is down over 8% year-to-date » Hog slaughter was virtually flat with last week at 2.54 million head, but down over 6% YTD. February WASDE: » 2025 beef production was raised by 3% from January - mostly due to resumption of Mexican live cattle imports. This would be 1.6% lower than 2024. Additional key factors to watch will be female slaughter and harvest weights. » 2025 pork production forecast was raised slightly from January and sits at an estimated 2.7% increase from 2024. » Broiler production was unchanged from last month and is projected to increase by 1.4% in 2025. » Estimated 2025 egg production was lowered by 2% from January, but wholesale egg price forecast was raised by $1.50. Consumer Price Index for January: » Consumer price index increased 0.5% in January, 3% increase over the last 12 months » Energy, gasoline, and food were all higher » Food index was up 0.4% for the month and 2.5% over the last year Risk Management: » Recent price declines were a good reminder that risk is always out there » The market has been on tear the last couple of years, but we have seen several pullbacks along the way » Basic strategies » Forward contracts, internet sale with delayed delivery » Futures contacts » Options » LRP insurance » My general approach to risk management » Know what tools are out there » Know how price changes impact returns » Don’t make decisions in real time » Don’t try to manage risk looking backwards Next Week’s Reports: » Livestock Slaughter » Cattle on Feed Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Beef imports up 24% in 2024 | Weekly Livestock Market Update

On this episode of Weekly Livestock Market Update, Brownfield's Meghan Grebner talks with Mississippi State University ag economist Josh Maples about trade, tariffs, and beef imports increasing by 24% in 2024. Market highlights: Live steer prices ended the week down $2.87 last week at $207.11/cwt for the 5-market average. February live cattle prices were down $3.67 compared to a week ago, and January feeder cattle future prices were down $10 per cwt on the week to $265.18. Choice box beef was at $322.26 at the end of this week, which is down about $5 from last week. Cash hogs were up a dollar and a half at $83.66/cwt. February lean hog futures were up about $3 per cwt to $87.25 on the week. Pork cutout values were up $1.49 from a week ago, to $95.07/cwt this week. Weekly Slaughter: At the end of the week, cattle slaughter was 576,000 head, down about 4 percent or 23,000 head from last week, and down 41,000 head from the same week last year. Hog slaughter was 2.413 million head, up 122,000 from the previous week and down 210,000 compared to year ago. Monthly and Annual Trade – Cattle and Beef: Beef imports were up 24% to 4.6 billion pounds in 2024 compared to 2023. Australia was the largest source of beef imports during 2024 at 24 percent of total imports. Canada was 2nd at 22 percent, Brazil 3rd at 15 percent, and Mexico 4th at 13 percent. Mexico was the only country from which we saw a decline in beef imports year over year, with imports from Mexico being 8 percent lower than in 2023. Beef imports during December 2024 were 30% above December 2023. Imports of live cattle were up 3 percent on the year with nearly all of the increase coming from Canada. 2024 Cattle imports from Mexico were even with 2023 and this included a 100 percent reduction during the month of December. Total cattle imports during December 2024 were 64 percent below December 2023. Beef exports were down 1 percent at 3 billion pounds in 2024 compared to 2023. Exports to Canada, China, and South Korea were each down 6 percent compared to 2023. Exports to Japan increased 8 percent in 2024 and was the largest export destination by volume at 21 percent of total. South Korea was 2nd, also at 21 percent, China was 3rd at 16%, and Mexico 4th at 11%. Beef exports were 3 percent higher in December 2024 compared to December 2023.   Monthly and Annual Trade – Hogs and Pork: Pork imports in 2024 were even with 2023. Canada was by far the largest import source at 62 percent of total imports. Mexico was 2nd at 8% and Denmark 3rd at 7%. Pork exports were up 4 percent in 2024 compared to 2023. Mexico was the largest destination by volume at 37 percent of total exports. Japan was 2nd at 15 percent, South Korea 3rd at 9 percent, and Canada 4th at 7 percent. Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

All cattle and calves down 1% on the year | Weekly Livestock Market Update

On this episode of Weekly Livestock Market Update, Brownfield's Meghan Grebner talks with ag economist Charley Martinez about the January Cattle Report showing all cattle and calves being down 1% on the year. Market highlights: Live cattle prices close $2.39 higher than last week at $209.98/cwt. February live cattle prices ($204.60) were up 75 cents compared to a week ago, and March feeder cattle future prices were down $1.45 on the week down to $275.73. Choice box beef was at $327.68 end of this week, which is down (.1%) from $27.92 last week. Pork Cutout was up to $93.58, from $92.02 (1.7%) from the previous week. National Base Hog Carcass was up to $82.15, which is 1.77% higher than last week, which was $80.72. February lean hog futures were up almost $2.00 to $84.17 on the week. Weekly Slaughter: At the end of the week, cattle slaughter was 600,000 head, up 1,000 from last week, but down 32,000 compared to a year ago. Hog slaughter was 2.574 million head, up 97,000 from the previous week and down 128,000 compared to year ago. January Cattle Report: All cattle and calves in the United States as of January 1, 2025, totaled 86.7 million head, 1% below the 87.2 million head on January 1, 2024, which is slower than previous year’s report (2%). Beef cows, at 27.9 million head, were down 1.3% (149,500) from a year ago, slowed down compared to 2% last year Cows that calved: California and Virginia down 6% Colorado down 7% Kentucky down 4% Pennsylvania down 5% Texas and Oklahoma increased 1% Missouri up 2% Wisconsin up 6% Beef replacement heifers, at 4.67 million head, were down 1% from a year ago, which holds compared to last year. The 2024 calf crop in the United States was estimated at 33.5 million head, which is slightly lower compared to last year’s report (33.6 million head). Dairy Cow herd remained the same 9.35 million. January Agricultural Prices Report: December increased 5.3% from November and 12% from December 2023. Beef cattle: $190/cwt in December ($2/cwt higher than November), up from $172/cwt in 2023, and up from $154/cwt in 2022. All hogs: $62.30/cwt in December ($3.10/cwt lower than November), up from $53.3/cwt in 2023, and down from $62.50/cwt in 2022. Imports from Mexico: 11 head of Horses came from Mexico last week, and zero cattle still. Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

December placements drop 3% | Weekly Livestock Market Update

On this episode of Weekly Livestock Market Update, Brownfield's Meghan Grebner talks with ag economist Kenny Burdine about slaughter numbers, Cold Storage, and the January Cattle on Feed report. Market highlights: Live steer prices look to be trading almost $4 higher this week at $207.59 for the 5-market average. February live cattle futures prices were up more than $7 on the week closing above $204 today. January feeder cattle future prices were up more than $5, closing above $278. Cash hogs were virtually unchanged at $80.72/cwt. February lean hog futures were up about $1 from last week, closing at $82.20 today. Pork cutout values were just a tick higher at $92.02 this week. Weekly Slaughter: At the end of the week, cattle slaughter was 599,000 head, down from 603,000 last week, and lower than last year. Hog slaughter was 2.477 million head, down about 6% from last week and down even more from year ago. Cold Storage: » Frozen beef supplies up 4% from last month, but down 5% from year ago. » Frozen pork supplies up 2% from November, but down 6% from December of 2023. » Frozen chicken stocks 8% below year-ago. » Big jump in bellies month-over-month, but 39% below last year. Livestock Slaughter: » Total December slaughter down 1% from year ago, but 3% YOY. » Steer slaughter has been up a bit, heifer slaughter down a bit, but cows have been the story. » Month over month, beef cow slaughter was down over 26% and down 18.8% YOY. » 2024 beef cow slaughter, as a percent of Jan 1 beef cow inventory is 10.1%. » Total hog slaughter for December 2024 was down just under 1% from 2023. For the year, hog slaughter was up 1.4% from 2023. January Cattle on Feed: » On feed inventory came in about 1% below year-ago, which is a larger percentage decrease than what was seen last month. » December placements were down over 3% from year ago, which was outside the range of estimates for placements. » December marketings were 1% higher. » Heifers as a percentage of on-feed inventory came in a 38.7%. This is about a percent lower than October 2024 and about a percent lower than January 2024. Next week’s report: » Cattle Inventory Numbers Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Beef imports increase 39% | Weekly Livestock Market Update

On this episode of Weekly Livestock Market Update, Brownfield's Meghan Grebner talks with ag economist Josh Maples about beef imports increasing by 39% and a preview of next week's reports. Market highlights: Live steer prices ended the week $1.67 higher than last week at $203.61/cwt for the 5-market average. February live cattle prices were down $1.90 compared to a week ago, and January feeder cattle future prices were up $1.45 on the week up to $273.80. Choice box beef was at $333.69 at the end of this week, which is up about $1 from last week. Cash hogs were up over 1 dollar at $80.56/cwt. February lean hog futures were down $1.50 to $81.08 on the week. Pork cutout values were down 33 cents from a week ago, to $91.69/cwt this week. Weekly Slaughter: At the end of the week, cattle slaughter was 602,000 head, up from 579,000 last week, and 19,000 head higher than last year. Hog slaughter was 2.414 million head, up 45,000 from the previous week and up 132,000 compared to year ago. Trade Report Update: The November 2024 livestock and meat trade data showed imports of beef continued to rise. Beef imports for November were up 39 percent and for the year were up 24 percent. Beef exports also increased in November, up 10.5 percent compared to November 2023 but down 1.5 percent for the year. Pork imports fell about 6 percent in November but are about a half percent above 2023 levels on the year. Exports rose 6 percent in November and were up about 5 percent on the year. Preview of Livestock Slaughter: In proteins: The average all-fresh beef price was $8.08 per pound during December. The average pork price was $4.88 and average chicken price was $2.43. Comparing 2024 to 2023, the beef prices averaged $8.01, up 41 cents from the 2023 average. Pork prices averaged $4.87 in 2024, up 6 cents from 2023. Chicken prices averaged $2.43, a 3-cent decline from 2023. Beef prices have moderated slightly from their recent high in September. Beef: Live cattle weights continue to be elevated compared to a year ago. The weekly average live weight for fed cattle was 1,441 pounds last week which is 57 pounds higher than a year ago. This will be a key metric to watch as 2025 progresses with important implications for 2025 beef production and expansion signals. Beef production this week was 527 million pounds which is about 19 million pounds above the same week last year. Live steer prices are roughly $30 per CWT above year ago levels. Pork: Pork production was at 571.7 million pounds on the week which is 2 million pounds above the same week last year. Hogs are not seeing the same carcass weight increases as live cattle. The average live hog weight was 292 pounds which is equal to this time last year. Average weekly pork production over the last 6 weeks is running about 5 million pounds above the same period a year ago. Next week's reports: » Livestock Slaughter » Cold Storage » Cattle on Feed Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

USDA raises 2025 beef production | Weekly Livestock Market Update

On this episode of Weekly Livestock Market Update, Brownfield's Meghan Grebner talks with ag economist Charley Martinez about USDA raising 2025 beef production, supply and demand numbers, and more. Market highlights: Live cattle prices close 20 cents higher than last week at $197/cwt. February live cattle prices were up $3.30 compared to a week ago, and January feeder cattle future prices were up $7 on the week up to $272.35. Choice box beef was at $332.84 end of this week, which is up from $325.24 last week. Cash hogs were 31 cents lower this week at $79/cwt. February lean hog futures were up $1.40 to $82.55 on the week. Pork cutout values were up 47 cents from a week ago, to $92.02/cwt this week. Weekly Slaughter: At the end of the week, cattle slaughter was 579,000 head, up from 471,000 last week, and 51,000 head higher than last year. Hog slaughter was 2.384 million head, up 526,000 from the previous week and up 263,000 compared to year ago. Supply and Demand: In proteins - Red meat and poultry production for 2024 was lowered due to November production data and expectations for slaughter numbers and weights for December. Egg production was also lowered due to the national layer flock being culled because of Highly Pathogenic Avian Influenza (HPAI)-related culling reported in December. Beef - 2025 beef production was raised because of higher placements expected during the fourth quarter of 2024. This equates to a 125-million-pound increase on 2025 estimates. The adjustment up leaves 2025 beef production still down 4.42% compared to 2024 beef production. 2025 Q1 is expected to be higher in 2025 compared to 2024, but Q2-Q4 expectations are expected to be much lower than 2024. Steer price was adjusted up $5/cwt to $196/cwt on average in 2025, with Q3 ($196/cwt) and Q4 ($198/cwt) being at or above the yearly average. Pork - 2025 pork production was raised 140 million pounds due to increases in farrowing and pig crop data. This equates to 722 million more pounds expected in 2025 compared to 2024. Total production in 2025 is expected to be 2.59% higher than 2024. Each quarter in 2025 is expected to be high than 2024 quarterly production numbers. Prices were adjusted up $1/cwt up to $63/cwt. Which would be approximately $1.50 higher than last year’s average. Prices are expected to elevate through the year up to $70/cwt. Winter Wheat and Canola Seedings Report: Texas was 5% up compared to a year ago. Oklahoma was 2% down compared to a year ago. Montana was up 15% compared to a year ago. Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

November beef cow slaughter drops nearly 31% from 2023 | Weekly Livestock Market Update

Brownfield's Meghan Grebner and livestock economist Scott Brown talk about the November beef cow slaughter dropping nearly 31% from 2023. Meghan also introduces the three new economists that will replace Scott in 2025. This week in the markets: Live fed cattle prices are $0.65 higher on the week, and feeder cattle markets were $3 to $8 higher on the week. February live cattle were down $3.70 on the week, and January feeder cattle were down $2.00 on the week. Choice box beef was $3.15 higher this week. Cash hogs were $0.30 higher this week. February lean hog futures were up $0.35 on the week. Pork cutout values were $2.65 higher this week on stronger bellies. Weekly Slaughter: At the end of the week, cattle slaughter was 617,000 head, up 8,000 on the week but down 4,000 for the year. Hog slaughter was 2.581 million head, up 21,000 from the previous week and up 152,000 on the year. Year-to-date cattle slaughter is down 3.6% relative to last year, and hog slaughter is up 0.8%. Livestock Slaughter: November 2024 beef production totaled 2.2 billion pounds, down 2.7% relative to last year. Total cattle slaughter was 5.9% below last year in November. November beef cow slaughter was nearly 31% lower in November 2024 than last year. Beef cow slaughter for the first 11 months of 2024 totaled 9.2% of the beginning beef cow inventory. November 2024, pork production totaled 2.3 billion pounds, 2.2% below last year, as hog slaughter fell 2.6% relative to last year. Cattle on Feed: Cattle placements in November 2024 were down 3.7% relative to the previous year, near the midpoint of the pre-report estimate. Cattle on Feed on December 1 was down 0.3% relative to last year and also near the pre-report midpoint. Cattle placements were lower due mainly to cattle placements that were less than 700 pounds. Next week's reports: » Hogs and Pigs » Cold Storage Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

USDA drastically lowers 2025 beef production | Weekly Livestock Market Update

Brownfield's Meghan Grebner and livestock economist Scott Brown talk about the USDA lowering their 2025 beef production estimates in this episode of Weekly Livestock Market Update. This week in the markets: Live fed cattle prices are $3.40 higher on the week, while feeder cattle markets were $3 to $8 lower on the week. February live cattle were up $6.20 on the week, and January feeder cattle were up $1.75 on the week. Choice box beef was $3.35 higher this week. Cash hogs were $0.75 higher this week. February lean hog futures were down $1.85 on the week. Pork cutout values were $3.00 higher this week. Weekly Slaughter: At the end of the week, cattle slaughter was 609,000 head, down 5,000 on the week but down 38,000 for the year. Hog slaughter was 2.573 million head, down 29,000 from the previous week and down 122,000 on the year. Year-to-date cattle slaughter is down 3.7% relative to last year, and hog slaughter is up 0.7%. WASDE: USDA’s supply and demand report lowered 2025 beef production by 615 million pounds due in large part to the assumption that the Mexican border is closed to feeder cattle. A reopening of feeder cattle from Mexico would likely result in USDA adjusting 2025 beef production higher. USDA raised 2025 beef imports by 195 million pounds over their November estimate. USDA increased 2025 cattle and hog prices by $3 this month, pushing fed cattle prices to $1.91. USDA did lower the 2024/25 soybean meal price by $20 per ton this month. Retail Prices: The retail price of choice beef was $8.32 per pound in November 2024, up 2.7% from October 2024. Year-to-date retail beef prices are 3% above the same period in 2023. The pork retail price was $4.95 per pound in November 2024, up 0.6% from October. Boneless pork chops jumped 6.3% in November relative to October. Next week's reports: » Livestock Slaughter » Cattle on Feed Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Feeder cattle markets sharply higher this week | Weekly Livestock Market Update

Brownfield's Meghan Grebner talks with agriculture economist Scott Brown about this week's livestock markets: Farm Income, Monthly Trade Data, Jobs Report, and Consumer Sentiment. This week in the markets: Live fed cattle prices are $0.40 higher on the week, and feeder cattle markets were $5 to $10 higher on the week. February live cattle were down $2.55 on the week, and January feeder cattle were down $3.05 on the week. Choice box beef was $0.40 lower this week. Cash hogs were $1.25 lower this week. February lean hog futures were up $1.10 on the week. Pork cutout values were $0.60 lower this week on primarily weaker bellies. Weekly Slaughter: At the end of the week, cattle slaughter was 614,000 head, up 78,000 on the week but down 24,000 for the year. Hog slaughter was 2.602 million head, up 319,000 from the previous week but down 66,000 on the year. Year-to-date cattle slaughter is down 3.6% relative to last year, and hog slaughter is up 0.8%. Farm Income: USDA currently projects 2024 net farm income at $140.7 billion, down $6 billion from 2023 or 4.1%. Livestock cash receipts are projected to grow by $21 billion. Livestock receipts help offset the projected lower crop receipts. Monthly Trade Data: October 2024: U.S. beef exports were 241.1 million pounds, virtually unchanged from last year. U.S. beef imports were 414 million pounds in October 2024, up 35.2% from October 2023. October 2024 pork exports totaled nearly 583 million pounds, up 1.7% relative to last year. Jobs Report: The November jobs report showed that the U.S. economy added 227,000 jobs, slightly above the pre-report estimates. The unemployment rate rose to 4.2% in November. The yearly increase in hourly wages continued to grow at 4%.  Consumer Sentiment: The December consumer sentiment index rose by 3.1% relative to last month. This is the fifth consecutive month of improved consumer sentiment this year. The December consumer sentiment index is 6.2% greater than one year ago. The current economic conditions portion of the index jumped 21.6% relative to last month. Next week's reports: » WASDE » Retail Prices Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

January feeder cattle futures up $4.80 on the week | Weekly Livestock Market Update

In this Weekly Livestock Market Update from Thanksgiving week, Brownfield's Meghan Grebner talks with livestock economist Scott Brown about Cold Storage numbers, Quarterly Trade Outlook, and Restaurant Performance Index. This week in the markets: Live fed cattle prices are $3.60 higher on the week, and feeder cattle markets were untested as many markets were closed for Thanksgiving week. December live cattle were up $1.35 on the week, and January feeder cattle were up $4.80 on the week. Choice box beef was $3.60 higher this week. Cash hogs were $1.10 lower this week. December lean hog futures were up $0.35 on the week. Pork cutout values were $3.45 lower this week on primarily weaker bellies. Weekly Slaughter: At the end of the week, cattle slaughter was 528,000 head, down 103,000 on the week and down 112,000 for the year. Hog slaughter was 2.293 million head, down 272,000 from the previous week and down 394,000 on the year. Year-to-date cattle slaughter is down 3.6% relative to last year, and hog slaughter is up 0.9%. Cold Storage: Beef stocks in cold storage at the end of October totaled 432 million pounds, down 3.1% from October 2023. In October 2024, pork cold storage stocks were 426 million pounds, down 2.7% from last year. At 16.2 million pounds, belly stocks are down 42% from October 2023. Outlook for U.S. Trade: USDA adjusted the net trade level for FY2025 by $-3.0 billion to arrive at a net trade level of $-45.5 billion. USDA increased livestock, poultry, and dairy exports by $0.7 billion for FY2025. The beef export level increased by $0.4 billion, and the pork export level increased by $0.1 billion with this quarter’s update. Restaurant Performance Index: The October 2024 Restaurant Performance Index increased by 1.6% relative to the previous month and registered above 100 at 100.4 for the first time in 2024. Same-store sales were up 1.3% in October 2024, which helped drive the current situation index higher. The expectations portion of the index was up 2.2% this month relative to the previous month. Next week's reports: » Farm Income » Jobs Report » Monthly Trade Data Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

October placements up 5% on the year | Weekly Livestock Market Update

In this episode of Weekly Livestock Market Update, Brownfield's Meghan Grebner and livestock economist Scott Brown talk Livestock Slaughter and Cattle on Feed numbers. This week in the markets: Live fed cattle prices are $0.80 higher on the week, and feeder cattle markets were $2.00 to $6.00 higher this week. December live cattle were up $3.80 on the week, and January feeder cattle were up $7.50 on the week. Choice box beef was $1.20 higher this week. Cash hogs were $2.05 lower this week. December lean hog futures were up $2.25 on the week. Pork cutout values were $3.30 lower this week on primarily weaker bellies. Weekly Slaughter: At the end of the week, cattle slaughter was 631,000 head, up 25,000 on the week and up 97,000 for the year. Hog slaughter was 2.565 million head, down 73,000 from the previous week but up 344,000 on the year. Year-to-date cattle slaughter is down 3.3% relative to last year, and hog slaughter is up 1.2%. Livestock Slaughter: October 2024 beef production totaled slightly more than 2.5 billion pounds, up 5.4% relative to last year. Year-to-date beef production exceeded the same period last year by 0.3%. Beef cow slaughter was 21% lower in October 2024 compared to October 2023. Cattle dressed weights were 868 pounds in October, 4.2% above last October. Pork production in October 2024 was 2.5 billion pounds, up 5.2% over October 2023. Year-to-date pork production is 2.5% above the same period in 2023. Cattle on Feed: The November Cattle on Feed report came in near the midpoints of the pre-report expectations in nearly all categories. Cattle on Feed on November 1 was 100.3% of last year, suggesting feedyards remain full. October placements were 105.3% of last year and near the pre-report midpoint of 103.3. This report suggests that beef supplies will not be reduced much in early 2025. Next week's reports: » Cold Storage » Outlook for U.S. Trade » Restaurant Performance Index Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

A preview of the upcoming Cattle on Feed report | Weekly Livestock Market Update

Brownfield's Meghan Grebner and livestock economist Scott Brown preview the upcoming Cattle on Feed report in this Weekly Livestock Market Update. This week in the markets: Live fed cattle prices are $1.80 lower on the week, and feeder cattle markets were steady to $7.00 higher this week. December live cattle were down $0.85 on the week, while January feeder cattle were up $5.50 on the week. Choice box beef was $7.30 lower this week. Cash hogs were $0.75 lower this week. December lean hog futures were down $1.20 on the week. Pork cutout values were $4.10 lower this week on weaker bellies. Weekly Slaughter: At the end of the week, cattle slaughter was 606,000 head, down 13,000 on the week and down 33,000 for the year. Hog slaughter was 2.633 million head, up 28,000 from the previous week but down 14,000 on the year. Year-to-date cattle slaughter is down 3.7% relative to last year, and hog slaughter is up 1.0%. Retail Prices: The October 2024 choice retail beef price was $8.11 down 3.6% from September and down 0.7% from one-year ago. The pork retail price was $4.92 per pound in October 2024, down 0.7% from last month and down 2.4% relative to last year. Next week's reports: » Livestock Slaughter » Cattle on Feed Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Beef imports up more than 23% on the year | Weekly Livestock Market Update

Brownfield's Meghan Grebner and livestock economist Scott Brown talk beef imports being up more than 23% on the year. This week in the markets: Live fed cattle prices are $2.60 lower on the week, and feeder cattle markets were steady to $5.00 higher this week. December live cattle were down $2.30 on the week, and January feeder cattle were down $1.90 on the week. Choice box beef was $6.10 lower this week. Cash hogs were $0.75 lower this week. December lean hog futures were down $3.40 on the week. Pork cutout values were $0.80 lower this week. Weekly Slaughter: At the end of the week, cattle slaughter was 619,000 head, up 4,000 on the week but down 4,000 for the year. Hog slaughter was 2.605 million head, down 48,000 from the previous week but up 27,000 on the year. Year-to-date cattle slaughter is down 3.7% relative to last year, and hog slaughter is up 1.0%. Monthly Trade Data: September 2024 beef exports totaled 240 million pounds, up 3.6% relative to one year ago. Japan and South Korea showed higher exports relative to last year. September 2024 beef imports totaled 385 million pounds, up 23% over last year. U.S. pork exports were 549 million pounds in September, up 7.2% over last year. China and other destinations were the positive drivers this month. Consumer Sentiment: The November Consumer Sentiment Index climbed 3.5% relative to last month and 19.1% relative to last year. Consumer expectations were up 38.2% over last year’s level. WASDE: The November WASDE increased all 2024 livestock prices this month relative to the October report. USDA increased 2025 beef production by 355 million pounds this month while lowering 2025 pork production by 115 million pounds. Feed costs remain unchanged in this month’s WASDE report. Next week's reports: » Retail Prices Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Live cattle futures down $3 on the week | Weekly Livestock Market Update

In this episode of Weekly Livestock Market Update, Brownfield's Meghan Grebner and livestock economist Scott Brown break down the Restaurant Performance Index and Jobs Data reports. This week in the markets: Live fed cattle prices are $0.25 lower on the week, and feeder cattle markets were $1.00 to $2.00 higher this week. December live cattle were down $3.00 on the week, and January feeder cattle were down $2.30 on the week. Choice box beef was $2.85 lower this week. Cash hogs were $2.75 higher this week. December lean hog futures were up $4.50 on the week. Pork cutout values were $4.20 higher this week on stronger bellies, hams, and ribs. Weekly Slaughter: At the end of the week, cattle slaughter was 615,000 head, down 8,000 on the week and down 21,000 for the year. Hog slaughter was 2.653 million head, up 60,000 from the previous week but down 12,000 on the year. Year-to-date cattle slaughter is down 3.8% relative to last year, and hog slaughter is up 1.0%. Restaurant Performance Index: The September Restaurant Performance Index was up slightly relative to last month. The stronger index was led by a 0.4-point increase in the current situation index, which was driven by more robust same-store sales and higher customer traffic. The expectations component of the index remained unchanged in September relative to August. Jobs Report: The October 2024 jobs report showed that only 12,000 jobs were added in October, which is well below the midpoint pre-report estimate of 105,000 added jobs. Hurricanes and worker strikes led to a slowdown in added jobs for October. August and September job numbers were revised downward by a combined 112,000. Average hourly pay remains 4% above the year-ago level. Next week's reports: » Monthly Trade Data » WASDE » Consumer Sentiment Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Heifers total 40% of cattle on feed inventory | Weekly Livestock Market Update

Brownfield's Meghan Grebner and livestock economist Scott Brown recap Livestock Slaughter, Cold Storage, and Cattle on Feed numbers in this episode of Weekly Livestock Market Update. This week in the markets: » Live fed cattle prices are $2.45 higher on the week, and feeder cattle markets were $1.00 to $4.00 higher this week. » December live cattle were up $1.90 on the week, and November feeder cattle were up $1.40 on the week. » Choice box beef was $4.50 higher this week. » Cash hogs were $1.45 higher this week. » December lean hog futures were up $1.75 on the week. » Pork cutout values were $2.75 higher this week. Weekly Slaughter: At the end of the week, cattle slaughter was 623,000 head, up 15,000 on the week but down 12,000 for the year. Hog slaughter was 2.593 million head, down 9,000 from the previous week and down 18,000 on the year. Year-to-date cattle slaughter is down 3.8% relative to last year, and hog slaughter is up 1.0%. Livestock Slaughter: In September 2024, beef production totaled 2.2 billion pounds, up 2.6% from last year. Year-to-date 2024 beef production is down only 0.3% relative to the same period last year. Beef cow slaughter is down 18.5% in September 2024 relative to September 2023. Cold Storage: September 2024 ending beef stocks totaled 414 million pounds, down 1.7% relative to last year. Pork ending stocks were 460 million pounds, which is a little changed from last year. Beef, pork, chicken, and turkey total stocks are down 2.8% relative to last year. Cattle on Feed: Cattle on feed, October 1, was unchanged today relative to last year. Cattle placements in September were 98.1% of one year ago, slightly below the pre-report estimate. Heifers on feed totaled 40% of total cattle on feed inventory, suggesting no beef cow expansion through heifer retention.    Next week's reports: » Restaurant Performance Index » Jobs Report Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Preview of next week's Cattle on Feed numbers | Weekly Livestock Market Update

This week, Brownfield's Meghan Grebner and livestock economist Scott Brown preview next week's Cattle on Feed and Livestock Slaughter reports. This week in the markets: Live fed cattle prices are $0.30 higher on the week, and feeder cattle markets were $1.00 to $4.00 higher this week. December live cattle were down $0.35 on the week, and November feeder cattle were down $2.35 on the week. Choice box beef was $9.45 higher this week. Cash hogs were $1.10 lower this week. December lean hog futures were up $0.20 on the week. Pork cutout values were $0.40 higher this week. Weekly Slaughter: At the end of the week, cattle slaughter was 608,000 head, up 22,000 on the week but down 30,000 for the year. Hog slaughter was 2.613 million head, up 29,000 from the previous week but down 3,000 on the year. Year-to-date cattle slaughter is down 3.8% relative to last year, and hog slaughter is up 1.1%. Next week's reports: » Livestock Slaughter » Cold Storage » Cattle on Feed Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Feeder cattle markets $1 to $3 higher | Weekly Livestock Market Update

In this episode of Weekly Livestock Market Update, Brownfield's Meghan Grebner and livestock economist Scott Brown talk about Monthly Trade Data, Retail Prices, Consumer Sentiment, Supply and Demands numbers and more. This week in the markets: Live fed cattle prices are $0.20 higher on the week, and feeder cattle markets were $1.00 to $3.00 higher this week. December live cattle were up $0.40 on the week, and November feeder cattle were unchanged on the week. Choice box beef was $8.30 higher this week. Cash hogs were $0.35 lower this week. December lean hog futures were up $1.25 on the week. Pork cutout values were unchanged this week. Weekly Slaughter: At the end of the week, cattle slaughter was 586,000 head, down 25,000 on the week and down 30,000 for the year. Hog slaughter was 2.584 million head, down 2,000 from the previous week and down 24,000 on the year. Year-to-date cattle slaughter is down 3.8% relative to last year, and hog slaughter is up 1.1%. Monthly Trade: August 2024 beef exports totaled 238 million pounds, down 22 million pounds from last year. Year-to-date beef exports are 3.6% below the year-ago level. Beef imports increased 87 million pounds in August 2024, relative to one year ago, and are 524 million pounds above last year on a year-to-date basis. August 2024, pork exports grew by 33 million pounds relative to last year at 560 million pounds. Mexico was important to the growth in U.S. pork exports this month. Retail Prices: The September 2024 choice beef retail price was $8.41 per pound, 2.8% above the year-ago level, while the pork retail price was $4.62 per pound, down 0.4% relative to one year ago. Although beef and pork retail prices are much higher than long-run averages, growth has slowed in 2024. Consumer Sentiment: The October 2024 Consumer Sentiment data showed a 1.7% decline relative to September as consumers worry about high prices for many goods. The index is 8% higher than the level experienced one year ago. WASDE: USDA continued to increase 2024 beef production this month. The 205-million-pound increase in this month’s report would make 2024 beef production higher than the 2023 level. This is a much different outcome than expected in early 2024. USDA also increased 2025 beef production by 300 million pounds this month. Fed steer prices were increased by $1 for 2024 and 2025 this month. Next week's reports: » No new reports! Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Cattle and hog futures up this week

Live and feeder cattle futures higher for the week | Weekly Livestock Market Update

Brownfield's Meghan Grebner and livestock economist Scott Brown talks Cold Storage and the USDA's Quarterly Hog Inventory reports. This week in the markets: Live fed cattle prices are $2.10 higher on the week, and feeder cattle markets were steady to $2.00 higher this week. October live cattle were up $1.25 on the week, and October feeder cattle were up $3.45 on the week. Choice box beef was $2.90 lower this week. Cash hogs were $0.40 lower this week. October lean hog futures were down $0.25 on the week. Pork cutout values were unchanged this week. Weekly Slaughter: At the end of the week, cattle slaughter was 612,000 head, up 2,000 on the week and unchanged for the year. Hog slaughter was 2.569 million head, up 63,000 from the previous week while down 48,000 on the year. Year-to-date cattle slaughter is down 3.9% relative to last year, and hog slaughter is up 1.2%. Cold Storage: August 2024 beef ending stocks were 395 million pounds, virtually unchanged relative to last year. These stock levels are 16% below the 2018 to 2022 average. Pork ending stocks for August 2024 were down 3.3% relative to last year at 454 million pounds. Pork belly stocks were down 30% relative to the previous year in August. Quarterly Hogs and Pigs: The hogs and pigs report came close to pre-report estimates for total market and breeding hog inventories. Breeding inventory was 97.8% of one year ago, and the market hog inventory was 100.7% of last year's level. The most significant deviation out of the report was larger than expected inventories of market hogs in the 120 to 179-pound category and the greater than 180-pound category. Next week's reports: » Restaurant Performance Index » Jobs Report Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Cattle on Feed near pre-report expectations | Weekly Livestock Market Update

This week, Meghan Grebner and livestock economist Scott Brown talk Livestock Slaughter and Cattle on Feed numbers. This week in the markets: Live fed cattle prices are $0.70 higher on the week, and feeder cattle markets were $2.00 to $7.00 higher this week. October live cattle were up $4.95 on the week, and October feeder cattle were up $4.55 on the week. Choice box beef was $5.30 lower this week. Cash hogs were $0.75 higher this week. October lean hog futures were up $3.90 on the week. Pork cutout values were up $0.20 this week. Weekly Slaughter: At the end of the week, cattle slaughter was 610,000 head, down 10,000 on the week and down 17,000 for the year. Hog slaughter was 2.506 million head, down 59,000 from the previous week and down 41,000 on the year. Year-to-date cattle slaughter is down 4.0% relative to last year, and hog slaughter is up 1.2%. Livestock Slaughter: August 2024 beef production totaled 2.3 billion pounds, down 3.2% relative to last year. Year-to-date beef production is down 0.6%. August beef cow slaughter was down 22% relative to last year. Cattle dressed weights were 29 pounds above one year ago. August 2024 pork production was 2.3 billion pounds, down 0.3% relative to last year. Year-to-date pork production is 2.1% above the same period in 2023. Cattle on Feed: The latest Cattle on Feed report came in very near pre-report expectations. Cattle on Feed September 1 was 100.6% of one year ago, and August placements were 98.6% of one year ago. Both of those estimated were within 0.1% of the pre-report midpoints. Next week's reports: » Quarterly Hogs » Pigs and Cold Storage Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Feeder cattle futures up $8 this week | Weekly Livestock Market Update

In this livestock market update video, Brownfield's Meghan Grebner and agriculture economist Scott Brown talk about Retail Prices, Supply and Demand numbers, Consumer Sentiment, and more. This week in the markets: Live fed cattle prices are $0.50 lower on the week, and feeder cattle markets were $1.00 to $3.00 lower this week. October live cattle were up $2.30 on the week, and October feeder cattle were up $8.00 on the week. Choice box beef was $3.50 lower this week. Cash hogs were $2.45 lower this week. October lean hog futures were down $1.30 on the week. Pork cutout values were down $2.00 this week on weakness in ribs and hams. Weekly Slaughter: At the end of the week, cattle slaughter was 620,000 head, up 78,000 on the week while down 11,000 for the year. Hog slaughter was 2.571 million head, up 244,000 from the previous week and up 36,000 on the year. Year-to-date cattle slaughter is down 4.1% relative to last year, and hog slaughter is up 1.3%. Retail Prices: The August U.S. choice beef retail price was $8.52 per pound, up $0.08 from the July level. The August choice beef retail price is 3.5% higher than one year ago. The August pork retail price was $4.90 per pound, down $0.02 from July. The August retail pork price is 1.3% above last year. WASDE: USDA’s August WASDE report raised 2024 beef production by nearly 60 million pounds, leaving 2024 beef production only $0.6% lower than the 2023 level. The projection for 2025 beef production was increased by 180 million pounds this month. That leaves 2025 beef production still 4.4% below the estimated 2024 level. USDA lowered 2024 fed steer prices by $3.00 this month and 2025 fed steer prices by $5.00. The 2024/25 corn price was reduced by $0.10 per bushel this month. Consumer Sentiment: The preliminary September Consumer Sentiment increased by 1.6% relative to August. Consumers perceived more favorable prices as inflation for many products has been slowing. Next week's reports: » Livestock Slaughter » Cattle on Feed Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

USDA increases net farm income for 2024 | Weekly Livestock Market Update

In this episode of Weekly Livestock Market Update, Brownfield's Meghan Grebner talks with livestock economist Scott Brown about the increase in net farm income for 2024 from the United States Department of Agriculture. This week in the markets: Live fed cattle prices are $2.70 lower on the week, while feeder cattle markets were $3.00 lower to $4.00 higher this week. October live cattle were down $3.40 on the week, and October feeder cattle were down $6.60 on the week. Choice box beef was $0.20 higher this week. Cash hogs were unchanged this week. October lean hog futures were down $2.60 on the week. Pork cutout values were down $1.05 this week on weakness in bellies. Weekly Slaughter: At the end of the week, cattle slaughter was 542,000 head, down 69,000 on the week and down 17,000 for the year. Hog slaughter was 2.327 million head, down 102,000 from the previous week while up 82,000 on the year. Year-to-date cattle slaughter is down 4.1% relative to last year, and hog slaughter is up 1.3%. Monthly Trade Data: U.S. beef exports in July totaled 258 million pounds, up 18 million pounds from one year ago on strength to all destinations. July beef imports were 86 million pounds higher than one year ago, and year-to-date stand 436 million pounds above the same period in 2023. U.S. pork exports stood at 567 million pounds in July, up 62 million pounds from last year. Mexican imports of U.S. pork led to the strength of U.S. pork exports. U.S. Farm Income: The updated USDA estimate of 2024 farm income was increased to $140 billion, led in part to higher livestock receipts which are expected to surpass their 2023 level by nearly $18 billion. Higher egg and cattle receipts are leading the 2024 increase in overall livestock receipts. Production expenses are forecast in 2024 to remain $100 billion above their 2020 level despite a $10 billion decline in feed expenses from 2023 to 2024. Jobs Report: The August jobs report reported 142,00 jobs were added this month, but this growth remained below the 163,000 pre-report estimate. The unemployment rate fell to 4.2%. Next week's reports: » Retail Prices » WASDE » Consumer Sentiment Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Live and feeder cattle futures higher for the week | Weekly Livestock Market Update

In this week's video, Brownfield's Meghan Grebner and ag economist Scott Brown talk Quarterly Trade Outlook, U.S. and Canadian Hogs, and Restaurant Performance Index. This week in the markets: Live fed cattle prices are $1.80 lower on the week, while feeder cattle markets were $5.00 to $10.00 higher this week. October live cattle were up $3.10 on the week, and November feeder cattle were up $2.05 on the week. Choice box beef was $5.20 lower this week. Cash hogs were $1.15 lower this week. October lean hog futures were up $1.70 on the week. Pork cutout values were down $1.05 this week on weakness in bellies. Weekly Slaughter: At the end of the week, cattle slaughter was 611,000 head, up 3,000 on the week and down 20,000 for the year. Hog slaughter was 2.429 million head, down 74,000 from the previous week while up 42,000 on the year. Year-to-date cattle slaughter is down 4.2% relative to last year, and hog slaughter is up 1.3%. U.S. Quarterly Trade Outlook: U.S. agricultural exports are expected to decline by $4 billion in fiscal year 2025. Due to tight beef supplies and higher prices, beef export value is expected to decrease by $1.0 billion in FY2025. All agricultural products' current net trade forecast shows the U.S. a net importer of 42.5 billion in FY2025. U.S. and Canadian Hogs: The Canadian hog inventory tended to show similar changes to those that have unfolded in the U.S. The Canadian breeding inventory was down 0.9%, yet the market hog inventory was 1.5% higher. The U.S. breeding inventory was 3.2% lower, while the market hog inventory grew by 1.3%. Restaurant Performance Index: The Restaurant Performance Index fell by 1.3% in July 2024 relative to June. The current situation portion of the index was down the most this month as weak customer traffic and low same-store sales occurred in July. Next week's reports: » Farm Income » Monthly Trade Data » Jobs Report Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Cattle placements up 6% year-over-year | Weekly Livestock Market Update

This week, Brownfield's Meghan Grebner and ag economist Scott Brown talk livestock slaughter, cold storage numbers, and Cattle on Feed. This week in the markets: Live fed cattle prices are $3.40 lower on the week, and feeder cattle markets were $6.00 to $11.00 lower this week. October live cattle were down $2.50 on the week, and September feeder cattle were down $0.65 on the week. Choice box beef was $0.60 lower this week. Cash hogs were $2.50 lower this week. October lean hog futures were up $5.55 on the week. Pork cutout values were down $2.76 this week on weakness in hams and bellies. Weekly Slaughter: At the end of the week, cattle slaughter was 608,000 head, up 6,000 on the week and down 18,000 for the year. Hog slaughter was 2.503 million head, down 9,000 from the previous week while up 9,000 on the year. Year-to-date cattle slaughter is down 4.2% relative to last year, and hog slaughter is up 1.2%. Livestock Slaughter: The July 2024 beef production totaled nearly 2.3 billion pounds, up 8.5% relative to last year. July cattle dressed weights were up nearly 30 pounds relative to July 2023. Beef cow slaughter was down 11.3% in July relative to last year and is down 15% year to date. The July 2024 pork production was up 12.2% relative to last year at nearly 2.3 billion pounds. Stronger hog slaughter, up 11.1% relative to the year-ago level, drove the higher production level. Cold Storage: Pork ending stocks in July were 4.3% lower than the same period last year, which was led by lower belly stocks. Total freezer beef at the end of July was down 0.8% compared to the previous year. Total beef, pork, and chicken stocks were down 6.5% relative to July 2023 at 1.6 billion pounds. Cattle on Feed: Cattle on Feed on August 1 were at 100.3% of last year, towards the upper end of the pre-report estimate. Cattle placements in July were 105.8% of July 2023 and nearly fell outside of the upper end of the pre-report estimate. Although analysts were expecting higher July placements, this report will be seen as somewhat bearish. Next week's reports: » Quarterly Outlook for U.S. Agricultural Trade » U.S. and Canadian hog Inventory » Restaurant Performance Index Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Cattle futures slide again this week | Weekly Livestock Market Update

In this week's video, Brownfield's Meghan Grebner and University of Missouri ag economist Scott Brown dig into all the details of Weekly Slaughter, Retail Prices, Consumer Sentiment, WASDE, and more. This week in the markets: Live fed cattle prices are $1.50 lower on the week, and feeder cattle markets were $3.00 to $5.00 higher this week. October live cattle were down $3.05 on the week, and September feeder cattle were down $2.25 on the week. Choice box beef was $1.90 higher this week. Cash hogs were $1.90 lower this week. October lean hog futures were up $1.10 on the week. Pork cutout values were down $0.80 this week on weakness in hams. Weekly Slaughter: At the end of the week, cattle slaughter was 602,000 head, up 11,000 on the week and down 15,000 for the year. Hog slaughter was 2.512 million head, up 129,000 from the previous week and up 81,000 on the year. Year-to-date cattle slaughter is down 4.2% relative to last year, and hog slaughter is up 1.3%. Retail Prices: The July 2024 beef retail price was $8.43 per pound, up 3.9% relative to the previous month and 1.5% higher than last year. The July 2024 pork retail price was $4.92 per pound, up $0.04 from June 2024. Food price inflation continues to cool as 2024 unfolds. Consumer Sentiment: The preliminary August 2024 consumer sentiment index rose 1.4 points relative to July. Stronger expectations drove the increase in the overall index as the current economic condition portion was lower in July than in June. WASDE: The August WASDE report increased 2024 beef, pork, and chicken production by 85 million pounds this month and lowered 2024 pork exports by 125 million pounds. USDA increased the 2024 fed cattle price by $1.25 this month. The 2024/25 projected corn price is projected to be down 9.7% relative to 2023/24, and the soybean meal price is projected to be 17.9% lower over the same period. Next week's reports: » Livestock Slaughter » Cattle on Feed » Cold Storage Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Cattle markets drop again this week | Weekly Livestock Market Update

This week, Brownfield's Meghan Grebner and University of Missouri ag economist Scott Brown talk about the slide in cattle markets, Monthly Trade Data, and more. This week in the markets: Live fed cattle prices are $3.00 lower on the week, and feeder cattle markets were $9.00 to $14.00 lower this week. October live cattle were down $0.85 on the week, and September feeder cattle were down $6.35 on the week. Choice box beef was $0.40 higher this week. Cash hogs were $2.15 lower this week. October lean hog futures were down $2.60 on the week. Pork cutout values were down $5.00 this week on weakness across the board. Weekly Slaughter: At the end of the week, cattle slaughter was 591,000 head, down 2,000 on the week and down 12,000 for the year. Hog slaughter was 2.372 million head, down 83,000 from the previous week and up 4,000 on the year. Year-to-date cattle slaughter is down 4.3% relative to last year, and hog slaughter is up 1.2%. Monthly Trade Data: June 2024 beef exports were down 2.4% relative to last year, with China and South Korea leading the lower exports. U.S. beef imports in June 2024 were up 46.4 million pounds relative to the previous year, with year-to-date imports up 19% relative to the same period in 2023. In June 2024, pork exports were 60 million pounds lower on weakness to nearly all destinations except South Korea. Pork exports to China were down 31.4 million pounds. Next week's reports: » WASDE » Consumer Sentiment Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

September feeder cattle futures drop $11.60 on the week | Weekly Livestock Market Update

In this Weekly Livestock Market Update, Brownfield's Meghan Grebner and University of Missouri ag economist Scott Brown provide insight on Restaurant Performance, land values, jobs data and more. This week in the markets: Live fed cattle prices are $0.50 lower on the week, and feeder cattle markets were uneven this week from down $4.00 to up $4.00. October live cattle were down $6.60 on the week, and September feeder cattle were down $11.60 on the week. Choice box beef was $1.00 higher this week. Cash hogs were $1.35 higher this week. October lean hog futures were down $1.60 on the week. Pork cutout values were up $0.70 this week. Weekly Slaughter: At the end of the week, cattle slaughter was 593,000 head, down 7,000 on the week and down 22,000 for the year. Hog slaughter was 2.455 million head, up 19,000 from the previous week and up 107,000 on the year. Year-to-date cattle slaughter is down 4.4% relative to last year, and hog slaughter is up 1.2%. Restaurant Performance Index: For the 7th consecutive month, the Restaurant Performance index has remained below 100 and in contraction. Customer traffic stood at 95.6 in the June 2024 data and has been important to the current situation index, with this portion of the index below 100 for nine consecutive months. Land Values: USDA showed 2024 land values generally continue to move higher relative to last year. U.S. cropland values rose 4.7% in 2024 relative to 2023. All regions of the country experienced increased cropland values, with the southeast region up the most, at a 7.2% annual increase. U.S. pastureland values were up 5.2%, U.S. cropland has risen by 37.2% since 2020, and U.S. pastureland is 30.7% higher over the same period. Jobs Report: There were 114,000 jobs added in July, according to the Bureau of Labor Statistics. That was well below the pre-report estimate of 185,000 jobs. The unemployment rate moved up to 4.3%. Average hourly earnings over the past twelve months were up 3.6%. Next week's reports: » Monthly Trade Data Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Live cattle futures jump more than $5 on the week | Weekly Livestock Market Update

This week, Meghan Grebner and University of Tennessee ag economist Charley Martinez talk live cattle futures jumping more than $5 on the week, Livestock Slaughter, and Cold Storage. This week in the markets: Live fed cattle prices were up $2 compared to a week ago. August live cattle were up $5.47 compared to week, and August feeder cattle were up $2.23 on the week. Choice box beef was $313.11 at the end of this week, which is down from $4.67 last week. Cash hogs were $0.29 lower this week. August lean hog futures were up $1.90 on the week. Pork cutout values were up around $3.00 this week. Weekly Slaughter: At the end of the week, cattle slaughter was 600,000 head, up 16,000 compared to last week and down 16,000 from last year. Hog slaughter was 2.436 million head, up 64,000 from last week and up 37,500 on the year. Year-to-date cattle slaughter is down 4.5% relative to last year, and hog slaughter is up 1.1% Livestock Slaughter: Overall take away, meat production for the United States totaled 4.27 billion pounds in June, down 6% percent from a year ago. Beef production was at 2.14 billion pounds in June. That is 9% below last year. Cattle slaughter totaled 2.54 million head. Which is down 12% from last year. The average live weight was up 44 pounds from the previous year, at 1,382 pounds. Pork production totaled 2.12 billion pounds in June. Which is down 4% from last year. Hog slaughter totaled 9.92 million head. Which is down 5% from last year. The average live weight was up 3 pounds from the previous year, at 287 pounds. Through the first half of the year, meat production has totaled 27.2 billion pounds, which is down slightly from last year. Accumulated beef production was down 2% from last year, and pork was up 1% from last year Cold Storage Report: Total red meat supplies in freezers were down 2% from the previous month, and down 2% from last year. Total pounds of beef in freezers were down 3% from the previous month and down slightly from last year. Frozen pork supplies were down 2% from the previous month and down 3% from last year. Interestingly, stocks of pork bellies were down 16% from last month and down 14% from last year Next week's reports: » Jobs Report Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Cattle on Feed up just over 0.5% from last year | Weekly Livestock Market Update

This week, Meghan Grebner and University of Tennessee ag economist Charley Martinez talk about Cattle on Feed being up just over 0.5% from last year, and also what's expected for next week's reports. Market highlights: Live fed cattle prices were down $2 compared to a week ago. August live cattle were up $.73 from last week, and August feeder cattle were down $3.05 on the week. Choice box beef was $313.83 at the end of this week, which is down from $322 last week. Cash hogs were $.60 higher this week. August lean hog futures were down $3.12 on the week. Pork cutout values were up around $3.30 this week. Weekly Slaughter: At the end of the week, cattle slaughter was 584,000 head, down 17,000 on the week and down 42,000 for the year. Hog slaughter was 2.327 million head, up 8,000 from the previous week and up 44,000 on the year. Year-to-date cattle slaughter is down 4.5% relative to last year, and hog slaughter is up 1.1%. Cattle on Feed: The July Cattle on Feed report indicated cattle and calves on feed as of July 1, 2024, totaled 11.30 million head, up just over 0.5% compared to a year ago. June placements in feedlots totaled 1.56 million head, which is down 6.8% from a year ago. June marketing’s totaled 1.79 million head down 8.7% from 2023. Placements on feed by weight: under 700 pounds down 6.8%, 700 to 899 pounds down 6.7%, 900 pounds and over down 7.5%. The decreases compared to a year ago were expected as there are fewer cows in the national herd, thus fewer cattle to place and have on feed. With no July 1 inventory report for the national herd, this Cattle on Feed report provides insight into herd building or lack thereof. Heifers on feed were 4.48 million, which is relatively the same as last year. Indicating that there is no intention of herd rebuilding nationally. Although, there could be some rebuilding in regional pockets around the country depending on drought status. Next week's reports: » Cold Storage » Livestock Slaughter Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

July Supply and Demand increases beef, pork production forecasts | Weekly Livestock Market Update

This week, Brent Barnett and ag economist Scott Brown talk about the USDA’s July Supply and Demand data, June retail prices, and consumer sentiment. This week in the markets: Live fed cattle prices are $3.00 lower on the week, and feeder cattle markets were $5 to $10 lower. August live cattle were down $3.75 on the week, and August feeder cattle were down $2.50 on the week. Choice box beef was $5.20 lower this week. Cash hogs were $1.50 lower this week. August lean hog futures were down $0.35 on the week. Pork cutout values were up $1.30 this week on strength in hams and bellies. Weekly Slaughter: At the end of the week, cattle slaughter was 601,000 head, up 79,000 on the week and down 32,000 for the year. Hog slaughter was 2.386 million head, up 352,000 from the previous week and up 48,000 on the year. Year-to-date cattle slaughter is down 4.5% relative to last year, and hog slaughter is up 1.1%. Retail Prices: In June 2024, the choice beef retail price was $8.12 per pound, up only slightly from May. Ground beef was 1.9% higher this month than in May, while beef steaks were 0.9% lower this month. The June 2024 pork retail price was $4.88 per pound, down 0.8% relative to May. WASDE: USDA's monthly report continues to increase 2024 and 2025 beef production levels relative to previous forecasts. USDA also increased its forecast for 2025 pork production by 150 million pounds. The projection for 2025 cattle prices was raised by $2 this month and is expected to average $191 in 2025. The 2024/25 corn price was lowered by $0.10 per bushel in this month's report. Consumer Sentiment: The July Consumer Sentiment index fell 3.2% relative to June. Consumers continue to worry about higher prices and inflation even though inflation is moderating. The index is 7.7% below the level found in July 2023. Next week's reports: » Cattle on Feed Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Fed cattle prices see slight decline this week | Weekly Livestock Market Update

This week, Meghan Grebner and ag economist Scott Brown talk about the slight decline in fed cattle prices. They also look at Weekly Slaughter, Monthly Trade Data, and the most recent Jobs Report. This week in the markets: Live fed cattle prices are $0.50 lower on the week with only a light volume, and feeder cattle markets were mostly closed due to the July 4th holiday week. August live cattle were up $1.05 on the week, and August feeder cattle were up $2.25 on the week. Choice box beef was $6.25 higher this week. Cash hogs were $0.20 higher this week. August lean hog futures were down $0.45 on the week. Pork cutout values were down $1.70 this week. Weekly Slaughter: At the end of the week, cattle slaughter was 517,000 head, down 92,000 on the week and down 19,000 for the year. Hog slaughter was 2.045 million head, down 376,000 from the previous week while up 91,000 on the year. Year-to-date cattle slaughter is down 4.5% relative to last year, and hog slaughter is up 1.1%. Monthly Trade Data: In May 2024, beef exports totaled 259 million pounds, down 2.9% compared to one year ago. Year-to-date beef exports are down 4.9% compared to the same period in 2023. Beef imports were 242 million pounds in May, up 10% relative to last May. In May 2024, pork exports were 585 million pounds, down 5.7% compared to last year. North America and Asia destinations were down relative to last year. Year-to-date pork exports are up 6% relative to the same period last year. Jobs Report: There were 209,000 jobs added in June, according to the Bureau of Labor Statistics. That was is slightly above the pre-report estimate of 195,000 jobs. Unemployment moved up to 4.1%. Average hourly earnings moved up $0.1, slowing the yearly increase to 3.9%, the lowest increase since mid-2021. Next week's reports: » Retail Prices » WASDE » Consumer Sentiment Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Hog inventory up 1%, corn planted acreage larger than expected | Weekly Livestock Market Update

In this video, Brownfield’s Brent Barnett and ag economist Scott Brown talk hog inventory being up 1%. They also recap the USDA’s June Acreage Report that came out on Friday. This week in the markets: Live fed cattle prices are $0.90 lower on the week with only a light volume, while feeder cattle prices are steady to $3 higher this week. August live cattle were up $2.00 on the week, and August feeder cattle were up $1.00 on the week. Choice box beef was $2.20 higher this week. Cash hogs were $1.10 lower this week. July lean hog futures were down $2.30 on the week. Pork cutout values were down $1.60 this week. Weekly Slaughter: At the end of the week, cattle slaughter was 609,000 head, down 11,000 on the week while down 42,000 for the year. Hog slaughter was 2.421 million head, up 2,000 from the previous week and up 91,000 on the year. Year-to-date cattle slaughter is down 4.5% relative to last year, and hog slaughter is up 1.0%. Cold Storage: In May 2024, beef ending stocks were down 0.5% relative to one year ago at 424 million pounds. May pork ending stocks were down 9.4% relative to last year at 482 million pounds. Hogs and Pigs: The June 1 hog breeding inventory was 96.8% of last year, slightly below the low end of the pre-report estimates. Pigs per litter was 101.8% of last year. The breeding herd has been steady at nearly 6 million head, and pigs per litter continues to grow, although the growth rate is slowing. Iowa, Texas, and Missouri showed the largest declines in breeding inventory over the last year. June Acreage: USDA's Acreage report surprised analysts with corn acreage increasing to 91.475 million acres, outside the upper end of the pre-report estimates. Soybean acreage at 861 million acres was at the low end of the pre-report estimates. Next week's reports: » Jobs Report » Monthly Trade Data Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Cattle placed up 4%, outside the upper end of pre-report estimates | Weekly Livestock Market Update

In this video, Brownfield's Meghan Grebner and ag economist Scott Brown talk cattle placements being up 4%, outside the upper end of pre-report estimates. They also recap this week's markets including Weekly Slaughter, Livestock Slaughter, Cattle on Feed, and more. This week in the markets: Live fed cattle prices are $2.60 higher on the week with only a light volume, and feeder cattle prices are $4 to $7 higher this week. August live cattle were up $.20 on the week, while August feeder cattle were down $3.75 on the week. Choice box beef was $3.10 higher this week. Cash hogs were $0.25 lower this week. July lean hog futures were down $2.00 on the week. Pork cutout values were down $2.00 this week. Weekly Slaughter: At the end of the week, cattle slaughter was 620,000 head, up 5,000 on the week while down 29,000 for the year. Hog slaughter was 2.419 million head, up 39,000 from the previous week and up 51,000 on the year. Year-to-date cattle slaughter is down 4.4% relative to last year, and hog slaughter is up 0.9%. Livestock Slaughter: In May 2024, beef production totaled 2.3 billion pounds, up 0.9% compared to one year ago. Year-to-date beef production is down 0.1% compared to the same period in 2023. Cattle dressed weights were up 36 pounds relative to last year. Beef cow slaughter was down 20% in May 2024 relative to one year ago. Pork production totaled 2.3 billion pounds in May 2024, up 0.3% relative to May 2023. Cattle on Feed: In May 2024, cattle placements totaled 2.046 million head, 104.3% of one year ago. This level fell outside the upper end of the pre-report estimate of 102.4%. Cattle on feed on June 1 was 99.9% of one year ago and also outside the upper end of the pre-report estimate of 99.4% Next week's reports: » Cold Storage » Quarterly Hogs and Pigs » June Acreage Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

August feeder cattle futures jump $7 on the week | Weekly Livestock Market Update

On this week's episode of Weekly Livestock Market Update, Brownfield's Meghan Grebner and ag economist Scott Brown talk August feeder cattle futures jumping $7 on the week, and more. This week in the markets: Live fed cattle prices are $2.75 higher on the week, and feeder cattle prices are steady to $4 higher this week. August live cattle were up $5.70 on the week, and August feeder cattle were up $7.00 on the week. Choice box beef was $2.25 higher this week. Cash hogs were $0.60 lower this week. July lean hog futures were up $0.40 on the week. Pork cutout values were down $0.55 this week. Weekly Slaughter: At the end of the week, cattle slaughter was 615,000 head, up 1,000 on the week while down 21,000 for the year. Hog slaughter was 2.390 million head, down 32,000 from the previous week while up 64,000 on the year. Year-to-date cattle slaughter is down 4.4% relative to last year, and hog slaughter is up 0.9%. Consumer Sentiment: The June consumer sentiment index fell 5.1% this month relative to May. Concerns about high prices for consumer goods topped the list of reasons for a lower index this month. Retail Prices: The May 2024 retail beef price was $8.11 per pound, down $0.04 from last month. The May 2024 pork retail price rose $0.11 per pound this month to $4.92 per pound. WASDE: There were small changes to the livestock forecast in the June WASDE report. The bigger changes were a 100 million pound increase in 2024 pork exports this month and a 245 million pound increase in 2025 beef production. Next week's reports: » Livestock Slaughter » Cattle on Feed Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Another sluggish week for cattle | Weekly Livestock Market Update

On this episode of Weekly Livestock Market Update, Meghan Grebner and Scott Brown talk Monthly Trade Data, this month’s Jobs report, and another down week for cattle. This week in the markets: Live fed cattle prices are $2.20 lower on the week, while feeder cattle prices are steady to $3 lower this week. August live cattle were down $1.05 on the week, and August feeder cattle were down $1.60 on the week. Choice box beef was $2.80 higher this week. Cash hogs were $0.25 lower this week. July lean hog futures were down $3.60 on the week. Pork cutout values were down $1.80 this week. Weekly Slaughter: At the end of the week, cattle slaughter was 614,000 head, up 74,000 on the week while down 3,000 for the year. Hog slaughter was 2.422 million head, up 267,000 from the previous week and up 67,000 on the year. Year-to-date cattle slaughter is down 4.4% relative to last year, and hog slaughter is up 0.8%. Monthly Trade Data: April 2024 beef exports totaled 260 million pounds, down 8 million pounds from May 2023. Weakness in South Korean imports drove the lower export level. US April 2024 beef imports are 327 million pounds and stand 22% above year-ago levels year-to-date. Pork exports were 656 million pounds in April 2024, 75 million pounds above the year-ago level. Mexico's imports of US pork were up 57 million pounds and drove a strong increase in US pork exports. Jobs Report: The US economy added 272,000 in May 2024, well above the pre-report estimate of 185,000 jobs. The unemployment rate increased to 4.0%. The healthcare, government, and hospitality sectors added the most jobs in May. Next week's reports: » Retail Prices » WASDE » Consumer Sentiment Connect with Brownfield Ag News: » Get the latest ag news: https://www.brownfieldagnews.com/ » Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews » Follow Brownfield on X (Twitter): https://x.com/brownfield » Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews About Brownfield Ag News: Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Cattle prices slip in the holiday shortened week | Weekly Livestock Market Update

In this episode of Weekly Livestock Market Update, Brownfield Anchor/Reporter Meghan Grebner and University of Missouri Market Analyst Scott Brown talk Quarterly Trade Data, the Restaurant Performance Index, and a down week for cattle. Learn more about what's happening in the agriculture markets here: https://brownfieldagnews.com/markets/ Find more agriculture news here: https://brownfieldagnews.com/ This week in the markets: Live fed cattle prices are $2.70 lower on the week, while feeder cattle prices were steady on the shorter holiday week. June live cattle were down $2.35 on the week, and August feeder cattle were down $4.05 on the week. Choice box beef was $1.60 higher this week. Cash hogs were $0.20 higher this week. June lean hog futures were down $0.05 on the week. Pork cutout values were up $2.50 this week. Weekly Slaughter: At the end of the week, cattle slaughter was 540,000 head, down 67,000 on the week and down 28,000 for the year. Hog slaughter was 2.155 million head, down 207,000 from the previous week but up 130,000 on the year. Year-to-date cattle slaughter is down 4.5% relative to last year, and hog slaughter is up 0.7%. Quarterly Trade Update: FY2024 agricultural exports were unchanged from the February outlook at $170.5 billion. Based on stronger dairy and beef exports, the livestock, poultry and dairy export outlook was increased by $800 million for FY2024. Imports of livestock, poultry, and dairy were increased by $600 million in the May outlook for FY2024. Restaurant Performance Index: The April 2024 restaurant performance index declined 0.4% relative to last month on a lower current situation index and a weaker expectations index. Customer traffic fell 0.5% in April relative to the previous month. Restaurant operators continue to be concerned about future business conditions. Next week's reports: ➡︎ Jobs Report ➡︎ Monthly Trade Data Connect with us: ➡︎ X (formerly Twitter): https://twitter.com/brownfield ➡︎ Facebook: https://www.facebook.com/BrownfieldAgNews ➡︎ YouTube: https://www.youtube.com/channel/UCBR7KnDynZ0hw7xF23dE94A Brownfield Ag News creates and delivers original content across multiple media platforms. Brownfield is the largest and one of the oldest agricultural news networks in the country carrying agricultural news, markets, weather, commentary and feature content. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Cattle placements down 6% on the year | Weekly Livestock Market Update

On this episode of Weekly Livestock Market Update, Brownfield Anchor/Reporter Meghan Grebner and University of Missouri Market Analyst Scott Brown talk about this week's big reports, as well as cattle placements being down 6% on the year. Learn more about what's happening in the agriculture markets here: https://brownfieldagnews.com/markets/ Find more agriculture news here: https://brownfieldagnews.com/ This week in the markets: Live fed cattle prices are $1.60 higher on the week, while feeder cattle prices were $2.00 to $6.00 higher this week. June live cattle were up $3.05 on the week, and August feeder cattle were up $0.90 on the week. Choice box beef was $4.90 higher this week. Cash hogs were $0.80 lower this week. June lean hog futures were down $2.35 on the week. Pork cutout values were down $1.30 this week. Weekly Slaughter: At the end of the week, cattle slaughter was 607,000 head, up 9,000 on the week and down 18,000 for the year. Hog slaughter was 2.374 million head, down 30,000 from the previous week but up 19,000 on the year. Year-to-date cattle slaughter is down 4.5% relative to last year, and hog slaughter is up 0.5%. Livestock Slaughter: April 2024 beef production totaled 2.3 billion pounds, 11.3% above last year. Cattle dressed weights were 30 pounds heavier than last April. Beef cow slaughter in April 2024 was down 8% relative to one year ago, while heifer slaughter was up 12.5%. These data observations do not suggest any growth in beef cow inventory. April 2024 pork production was 2.3 billion pounds, up 9.3% relative to last year's period. Cold Storage: April ending cold storage stocks of beef and pork continue to show inventories below year-ago levels. Pork ending stocks were down 11.7% relative to last year, and beef ending stocks were 4.7% lower. Cattle on Feed: Cattle on Feed data came in near the midpoint of pre-report estimates. Cattle placements in April were 94.2% of one year ago, and cattle on feed, May 1st, were 99.1% of last year. Next week's reports: ➡︎ Quarterly Trade Outlook ➡︎ Restaurant Performance Index Connect with us: ➡︎ X (formerly Twitter): https://twitter.com/brownfield ➡︎ Facebook: https://www.facebook.com/BrownfieldAgNews ➡︎ YouTube: https://www.youtube.com/channel/UCBR7KnDynZ0hw7xF23dE94A Brownfield Ag News creates and delivers original content across multiple media platforms. Brownfield is the largest and one of the oldest agricultural news networks in the country carrying agricultural news, markets, weather, commentary and feature content. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

August feeder cattle jump $9.05 for the week | Weekly Livestock Market Update

On this episode of Weekly Livestock Market Update, Brownfield Anchor/Reporter Meghan Grebner and University of Missouri Market Analyst Scott Brown talk August feeder cattle jumping $9.05 for the week. Learn more about what's happening in the agriculture markets here: https://brownfieldagnews.com/markets/ Find more agriculture news here: https://brownfieldagnews.com/ This week in the markets: Live fed cattle prices are $1.10 higher on the week, while feeder cattle prices were $2.00 to $5.00 higher this week. June live cattle were up $4.90 on the week, and August feeder cattle were up $9.05 on the week. Choice box beef was nearly $10 higher this week. Cash hogs were $1.70 higher this week. June lean hog futures were down $1.65 on the week. Pork cutout values were up $2.50 this week. Weekly Slaughter: At the end of the week, cattle slaughter was 598,000 head, down 24,000 on the week and down 42,000 for the year. Hog slaughter was 2.404 million head, up 25,000 from the previous week but down 3,000 on the year. Year-to-date cattle slaughter is down 4.5% relative to last year, and hog slaughter is up 0.5%. Retail Prices: The April pork retail price was $4.81, up two cents from last month. The April pork retail price stands 27.1% above the April 2019 price. The choice retail beef price was three cents higher than last month at $8.15 per pound. The April 2024 beef retail price is 33.6% above the April 2019 price and 3.8% above the same month the previous year. Next week's reports: ➡︎ Livestock Slaughter ➡︎ Cattle on Feed ➡︎ Cold Storage Connect with us: ➡︎ X (formerly Twitter): https://twitter.com/brownfield ➡︎ Facebook: https://www.facebook.com/BrownfieldAgNews ➡︎ YouTube: https://www.youtube.com/channel/UCBR7KnDynZ0hw7xF23dE94A Brownfield Ag News creates and delivers original content across multiple media platforms. Brownfield is the largest and one of the oldest agricultural news networks in the country carrying agricultural news, markets, weather, commentary and feature content. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

USDA cuts 2025 beef production by 1.5 billion pounds | Weekly Livestock Market Update

In this Weekly Livestock Market Update, Brownfield Anchor/Reporter Meghan Grebner and University of Missouri Market Analyst Scott Brown talk USDA cutting 2025 beef production by 1.5 billion pounds. Learn more about what's happening in the agriculture markets here: https://brownfieldagnews.com/markets/ Find more agriculture news here: https://brownfieldagnews.com/ This week in the markets: Live fed cattle prices are $1.20 lower on the week, while feeder cattle prices were $3.00 lower to $3.00 higher this week. June live cattle were down $0.85 on the week, and August feeder cattle were down $4.35 on the week. Choice box beef was $2.30 higher this week. Cash hogs were $0.15 higher this week. June lean hog futures were down $0.65 on the week. Pork cutout values were up $0.50 this week. Weekly Slaughter: At the end of the week, cattle slaughter was 622,000 head, unchanged on the week and down 22,000 for the year. Hog slaughter was 2.390 million head, down 17,000 from the previous week but up 28,000 on the year. Year-to-date cattle slaughter is down 4.4% relative to last year, and hog slaughter is up 0.5%. WASDE: USDA's May WASDE contained the first estimate for 2025 for livestock markets. They project that beef production will decline by 1.5 billion pounds relative to their 2024 estimate. 2025 pork production is expected to rise by over 300 million pounds relative to 2024. USDA estimates fed steer prices will average $188 in 2025, up $4.50 from their 2024 estimate. They project a 4% decline in 2025 hog prices. Consumer Sentiment: The May consumer sentiment report showed a nearly 13% decline in consumer sentiment from last month. The index is at its lowest level in around six months. Inflation, unemployment and interest rates are all given as reasons for the retreat in consumer sentiment. Next week's reports: ➡︎ Retail Prices Connect with us: ➡︎ X (formerly Twitter): https://twitter.com/brownfield ➡︎ Facebook: https://www.facebook.com/BrownfieldAgNews ➡︎ YouTube: https://www.youtube.com/channel/UCBR7KnDynZ0hw7xF23dE94A Brownfield Ag News creates and delivers original content across multiple media platforms. Brownfield is the largest and one of the oldest agricultural news networks in the country carrying agricultural news, markets, weather, commentary and feature content. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Feeder cattle prices dropped $3 to $6 this week | Weekly Livestock Market Update

On this episode of Weekly Livestock Market Update (WLMU), Brownfield Anchor/Reporter Meghan Grebner and University of Missouri Market Analyst Scott Brown talk feeder cattle prices dropping $3 to $6 this week. Learn more about what's happening in the agriculture markets here: https://brownfieldagnews.com/markets/ Find more agriculture news here: https://brownfieldagnews.com/ This week in the markets: Live fed cattle prices are $2.40 higher on the week, while feeder cattle prices were $3.00 to $6.00 lower this week. June live cattle were down $1.80 on the week, and August feeder cattle were down $5.35 on the week. Choice box beef was $2.10 lower this week. Cash hogs were unchanged this week. June lean hog futures were down $3.45 on the week. Pork cutout values were up $0.15 this week. Weekly Slaughter: At the end of the week, cattle slaughter was 619,000 head, up 6,000 on the week and down 2,000 for the year. Hog slaughter was 2.406 million head, up 27,000 from the previous week and down 46,000 on the year. Year-to-date cattle slaughter is down 4.5% relative to last year, and hog slaughter is up 0.5%. Monthly Trade Data: March 2024 beef exports totaled 256.1 million pounds, 10.4% below last year's level. Year-to-date beef exports are down 5.9% relative to the same period last year. Beef imports are 25% higher for the first quarter of 2024 relative to one year ago. Pork exports for March 2024 rose 2.1% relative to one year ago. Pork exports to South Korea showed strength this month. Jobs Report: The April jobs report showed 175,00 jobs were added, weaker than the 240,00 pre-report midpoint estimate. The unemployment rate increased to 3.9% in April. Restaurant Performance Index: The March restaurant performance index increased 0.2% relative to last month. The current situation index fell slightly on weaker same-store sales and customer traffic. Next week's reports: ➡︎ WASDE ➡︎ Consumer Sentiment Connect with us: ➡︎ X (formerly Twitter): https://twitter.com/brownfield ➡︎ Facebook: https://www.facebook.com/BrownfieldAgNews ➡︎ YouTube: https://www.youtube.com/channel/UCBR7KnDynZ0hw7xF23dE94A Brownfield Ag News creates and delivers original content across multiple media platforms. Brownfield is the largest and one of the oldest agricultural news networks in the country carrying agricultural news, markets, weather, commentary and feature content. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Feeder cattle prices $4.00 to $9.00 higher this week | Weekly Livestock Market Update

On this episode of Weekly Livestock Market Update (WLMU), Brownfield Anchor/Reporter Meghan Grebner and University of Missouri Market Analyst Scott Brown talk feeder cattle prices being $4.00 to $9.00 higher this week. Learn more about what's happening in the agriculture markets here: https://brownfieldagnews.com/markets/ Find more agriculture news here: https://brownfieldagnews.com/ This week in the markets: Live fed cattle prices are $1.10 higher on the week, and feeder cattle prices were $4.00 to $9.00 higher this week. June live cattle were up $2.95 on the week, and May feeder cattle were up $6.25 on the week. Choice box beef was $0.80 lower this week. Cash hogs are down $0.20 this week. June lean hog futures were down $2.50 on the week. Pork cutout values were down $2.35 this week. Weekly Slaughter: At the end of the week, cattle slaughter was 613,000 head, down 7,000 on the week and down 14,000 for the year. Hog slaughter was 2.379 million head, down 108,000 from the previous week and down 1,000 on the year. Year-to-date cattle slaughter is down 4.7% relative to last year, and hog slaughter is up 0.6%. Cold Storage: The March 2024 beef freezer stocks were 9.5% lower than one year ago and pork stocks were down 13.1% relative to one year ago. Chicken stocks were 100 million pounds lower than one year ago. Livestock Slaughter: March 2024 beef production totaled 2.1 billion pounds, down 12.3% relative to last year. Year-to-date beef production is down 3.9% relative to the previous year. Cattle weights were 23 pounds above last year. Pork production in March 2024 was 2.3 billion pounds, down 9.6% relative to March 2023. March 2024 beef cow slaughter was 22.4% below last year. Next week's reports: ➡︎ Restaurant Performance Index ➡︎ Jobs Report ➡︎ Monthly Trade Data Connect with us: ➡︎ X (formerly Twitter): https://twitter.com/brownfield ➡︎ Facebook: https://www.facebook.com/BrownfieldAgNews ➡︎ YouTube: https://www.youtube.com/@Brownfieldagnews Brownfield Ag News creates and delivers original content across multiple media platforms. Brownfield is the largest and one of the oldest agricultural news networks in the country carrying agricultural news, markets, weather, commentary and feature content. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Placements drop 12% on the year in latest On Feed report | Weekly Livestock Market Update

On this episode of Weekly Livestock Market Update (WLMU), Brownfield Anchor/Reporter Meghan Grebner and University of Missouri Market Analyst Scott Brown talk placements dropping 12% on the year in the latest Cattle On Feed report. Learn more about what's happening in the agriculture markets here: https://brownfieldagnews.com/markets/ Find more agriculture news here: https://brownfieldagnews.com/ This week in the markets: Live fed cattle prices are $1.00 lower on the week, and feeder cattle prices were $1.00 to $5.00 lower this week. June live cattle were up $4.15 on the week, and May feeder cattle were up $7.75 on the week. Choice box beef was $2.85 lower this week. Cash hogs are up $1.20 this week. June lean hog futures were up $2.95 on the week. Pork cutout values were down $0.20 this week. Weekly Slaughter: At the end of the week, cattle slaughter was 620,000 head, up 17,000 on the week and down 5,000 for the year. Hog slaughter was 2.487 million head, up 2,000 from the previous week and up 34,000 on the year. Year-to-date cattle slaughter is down 4.8% relative to last year, and hog slaughter is up 0.7% Cattle on Feed: The April 2024 cattle on feed inventory was up 1.5% relative to the year-ago level, slightly outside of the bottom end of the pre-report estimate. Cattle marketed during March was down 13.7% compared to one year ago and outside the pre-report estimates. Cattle placements were 12.3% below the year-ago level and came in below the range of pre-report estimates. The percentage of heifers on feed was 38.5% of total on feed. Although lower than the previous quarter, it suggests there is still no move by cow-calf producers to retain heifers to grow the cow herd. Next Week's Reports: ➡︎ Cold Storage ➡︎ Livestock Slaughter Connect with us: ➡︎ X (formerly Twitter): https://twitter.com/brownfield ➡︎ Facebook: https://www.facebook.com/BrownfieldAgNews ➡︎ YouTube: https://www.youtube.com/channel/UCBR7KnDynZ0hw7xF23dE94A Brownfield Ag News creates and delivers original content across multiple media platforms. Brownfield is the largest and one of the oldest agricultural news networks in the country carrying agricultural news, markets, weather, commentary and feature content. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Hog breeding inventory down 2.1% on the year | Weekly Livestock Market Update for 3/29/24

Brownfield Anchor/Reporter Meghan Grebner and University of Missouri Market Analyst Scott Brown give a weekly recap of the markets and discuss how it can impact farmers’ bottom lines. Learn more about what's happening in the agriculture markets here: https://brownfieldagnews.com/markets/ Find more agriculture news here: https://brownfieldagnews.com/ This week in the markets: Live fed cattle prices are $1.40 lower on the week, and feeder cattle prices were $6.00 to $9.00 lower this week. April live cattle were down $2.40 on the week, and April feeder cattle were down $4.70 on the week. Choice box beef was $3.80 lower this week. Cash hogs are up $0.85 this week. April lean hog futures were up $2.15 on the week. Pork cutout values were up $2.10 this week. Weekly slaughter: At the end of the week, cattle slaughter was 586,000 head, down 12,000 on the week and down 59,000 for the year. Hog slaughter was 2.404 million head, down 128,000 from the previous week and down 80,000 on the year. Year-to-date cattle slaughter is down 5.8% relative to last year, and hog slaughter is up 0.5% Cold storage: February 2024 Beef ending stocks were 440 million pounds, down 60 million pounds from one year ago. Pork ending stock fell slightly below 460 million pounds, down 60 million pounds from last year. Prospective plantings: USDA estimates corn planted acreage at 90 million acres, 5% lower than last year, while soybean acreage planted is projected to increase by 3% to 86.5 million acres. The corn acreage estimate fell below the pre-report estimate of 92 million acres. Restaurant performance index: The February restaurant index increased slightly but did not return to levels seen at the end of 2023. Same-store sales improved in February but remained below 100, suggesting further contraction. Hogs and pigs: The quarterly hogs and pigs report showed breeding inventory down 2.1% relative to one year ago, above the mid-point of the pre-report estimates. Farrowings in December through February were down 2.6%, coming in below pre-report estimates. Pigs per litter was 104.6% of last year, continuing a trend of stronger pigs per litter. Next week's reports: ➡︎ Jobs report ➡︎ Monthly Trade Data Connect with us: ➡︎ X (formally Twitter): https://twitter.com/brownfield ➡︎ Facebook: https://www.facebook.com/BrownfieldAgNews ➡︎ YouTube: https://www.youtube.com/channel/UCBR7KnDynZ0hw7xF23dE94A Brownfield Ag News creates and delivers original content across multiple media platforms. Brownfield is the largest and one of the oldest agricultural news networks in the country carrying agricultural news, markets, weather, commentary and feature content. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Cattle Placements 10% above year-ago levels | Weekly Livestock Market Update for 3/22/24

Brownfield Anchor/Reporter Meghan Grebner and University of Missouri Market Analyst Scott Brown give a weekly recap of the markets and discuss how it can impact farmers’ bottom lines. Learn more about what's happening in the agriculture markets here: https://brownfieldagnews.com/markets/ Find more agriculture news here: https://brownfieldagnews.com/ This week in the markets: Live fed cattle prices are $1.70 higher on the week and stand $25 above the year-ago level, while feeder cattle prices were $3 to $5.00 higher this week. April live cattle were up $0.45 on the week, while April feeder cattle were down $0.05 on the week. Choice box beef was $2.50 higher this week. Cash hogs are up $1.00 this week. April lean hog futures were down $2.25 on the week. Pork cutout values were up $0.10 this week. Weekly slaughter: At the end of the week, cattle slaughter was 598,000 head, down 3,000 on the week and down 30,000 for the year. Hog slaughter was 2.532 million head, up 66,000 from the previous week and up 59,000 on the year. Year-to-date cattle slaughter is down 5.4% relative to last year, and hog slaughter is up 0.8% Livestock slaughter: February 2024 beef production totaled 2.2 billion pounds, up 3.6% from the year-ago level. Cattle dressed weights were 8 pounds higher in February 2024 relative to one year ago. Pork production in February 2024 totaled 2.4 billion pounds, up 9.9% relative to last year. February 2024 had one extra weekday due to the leap year. Cattle on feed: The March 2024 cattle on feed inventory stood at 101.3% of last year. This is at the upper end of the pre-report estimates. Cattle placed in February was 109.7% of last year and fell nearly one percentage point outside of the upper end of the pre-report estimates. One extra day due to leap year and low January placements due to the extremely cold weather pushed placements higher in February. Next week's reports: ➡︎ Cold Storage ➡︎ Quarterly Hogs and Pigs ➡︎ Prospective Plantings ➡︎ Restaurant Performance Index Connect with us: ➡︎ X (formally Twitter): https://twitter.com/brownfield ➡︎ Facebook: https://www.facebook.com/BrownfieldAgNews ➡︎ YouTube: https://www.youtube.com/channel/UCBR7KnDynZ0hw7xF23dE94A Brownfield Ag News creates and delivers original content across multiple media platforms. Brownfield is the largest and one of the oldest agricultural news networks in the country carrying agricultural news, markets, weather, commentary and feature content. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Retail beef prices up 6.5% on the year | Weekly Livestock Market Update for 3/15/24

Brownfield Anchor/Reporter Meghan Grebner and University of Missouri Market Analyst Scott Brown give a weekly recap of the markets and discuss how it can impact farmers’ bottom lines. Learn more about what's happening in the agriculture markets here: https://brownfieldagnews.com/markets/ Find more agriculture news here: https://brownfieldagnews.com/ This week in the markets: Live fed cattle prices are $2.70 higher on the week and stand $23.65 above the year-ago level, while feeder cattle prices were steady to $5.00 higher this week. April live cattle were down $0.35 on the week, and April feeder cattle were down $1.80 on the week. Choice box beef was nearly $4.50 higher this week. Cash hogs are up $0.50 this week. April lean hog futures were up $2.05 on the week. Pork cutout values were up $1.15 this week. Weekly slaughter: At the end of the week, cattle slaughter was 601,000 head, up 18,000 on the week and down 27,000 for the year. Hog slaughter was 2.471 million head, up 15,000 from the previous week and down 24,000 on the year. Retail prices: The February beef retail price registered $8.08 per pound, up 6.5% relative to one year ago but unchanged from January 2024. Ground beef prices were 2.0% higher in February relative to January. The February pork retail price was $4.76 per pound, virtually unchanged from one year ago. Consumer sentiment: The March 2024 consumer sentiment index slid 0.5% relative to last month but remained 23.4% above the year-ago level. Next week's reports: ➡︎ Livestock Slaughter ➡︎ Cattle on Feed Connect with us: ➡︎ X (formally Twitter): https://twitter.com/brownfield ➡︎ Facebook: https://www.facebook.com/BrownfieldAgNews ➡︎ YouTube: https://www.youtube.com/channel/UCBR7KnDynZ0hw7xF23dE94A Brownfield Ag News creates and delivers original content across multiple media platforms. Brownfield is the largest and one of the oldest agricultural news networks in the country carrying agricultural news, markets, weather, commentary and feature content. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

USDA raises beef production in latest Supply and Demand | Weekly Livestock Market Update for 3/8/24

Brownfield Anchor/Reporter Meghan Grebner and University of Missouri Market Analyst Scott Brown talk about the USDA raising beef production in the latest Supply and Demand report. Learn more about what's happening in the agriculture markets here: https://brownfieldagnews.com/markets/ Find more agriculture news here: https://brownfieldagnews.com/ This week in the markets: Live fed cattle prices are $1.85 higher on the week, while feeder cattle prices were $3.00 to $6.00 higher this week. April live cattle were down $0.65 on the week, and April feeder cattle were down $4.25 on the week. Choice box beef was $2.70 higher this week. Cash hogs are up $0.65 this week. April lean hog futures were down $3.30 on the week. Pork cutout values were up $0.50 this week. Weekly slaughter: At the end of the week, cattle slaughter was 583,000 head, down 16,000 on the week and down 48,000 for the year. Hog slaughter was 2.456 million head, down 93,000 from the previous week and down 52,000 on the year. Jobs report: February jobs totaled 275,000, above the pre-report estimate of 198,000. However, the unemployment rate increased to 3.9% Monthly trade data: January 2024 beef exports totaled 232.6 million pounds, down 4.1% relative to the year-ago level. Mexico increased U.S. beef by 17.2% in January relative to one year ago. January beef imports increased by 38.1% relative to last year as Brazil, Australia, and New Zealand all sent more beef to the U.S. Pork exports rose 5.8% in January relative to last year at 587.8 million pounds. WASDE: USDA raised March beef production by 140 million pounds and increased beef imports by 50 million pounds. Total beef, pork, and chicken production was increase by 270 million pounds from USDA’s February numbers. USDA lowered corn prices by $.05 this month. Next week's reports: ➡︎ Retail Prices ➡︎ Consumer Sentiment Connect with us: ➡︎ X (formally Twitter): https://twitter.com/brownfield ➡︎ Facebook: https://www.facebook.com/BrownfieldAgNews ➡︎ YouTube: https://www.youtube.com/channel/UCBR7KnDynZ0hw7xF23dE94A Brownfield Ag News creates and delivers original content across multiple media platforms. Brownfield is the largest and one of the oldest agricultural news networks in the country carrying agricultural news, markets, weather, commentary and feature content. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Weekly Livestock Market Update: March 1st, 2024

This week in the markets – Live fed cattle prices are $2.25 higher on the week, while feeder cattle prices were steady to $4.00 higher this week. April live cattle were up $0.45 on the week, and April feeder cattle were down $1.90 on the week. Choice box beef was $4.85 higher this week. Cash hogs are up $0.70 this week. April lean hog futures were up $0.90 on the week. Pork cutout values were marginally lower this week. Weekly Slaughter – At the end of the week, cattle slaughter was 599,000 head, down 6,000 on the week and down 27,000 for the year. Hog slaughter was 2.549 million head, down 29,000 from the previous week and up 26,000 on the year. Cold Storage – January 2024 cold storage stocks of beef were down 11.2% relative to one year ago at 475 million pounds. Pork ending stocks for January were down 9.8% at 468 million pounds. Bellies, hams, and loins were all lower relative to year-ago levels. Restaurant Performance Index – Lower same-store sales and customer traffic led to a 1.1% decline in the January 2024 restaurant performance index. Weakness has led to four months of the current situation index being in the contraction range. The weaker customer traffic trend may suggest consumers need to make choices to reduce spending as their budgets tighten.     Quarterly Trade Report – USDA increased their FY2024 agricultural trade value by $1.0 billion relative to their November estimates. They also increased the value of imports for FY2024 by $1 billion, leaving net exports unchanged. The bright spot for the livestock industry was a $0.5 billion increase in pork export value relative to their November forecast. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. Cattle on Feed Up Slightly, Placements Down 7% | Weekly Livestock Market Update for 2/23/24

Brownfield Anchor/Reporter Brent Barnett and University of Missouri Market Analyst Scott Brown give a weekly recap of the markets and discuss how it can impact farmers’ bottom lines. Learn more about what's happening in the agriculture markets here: https://brownfieldagnews.com/markets/ Find more agriculture news here: https://brownfieldagnews.com/ This week in the markets: Live fed cattle prices are $0.75 higher on the week with very light volume, and feeder cattle prices were $2.00 to $4.00 higher this week. April live cattle were up $0.35 on the week, and March feeder cattle were up $3.30 on the week, while March corn futures were 17 cents lower this week, with corn futures closing below $4.00 for the first time since late 2020. Choice box beef was up $4.30 this week and stood at $12.00 above the year-ago level. Cash hogs are up $4.00 this week. April lean hog futures were up $1.95 on the week. Pork cutout values were up $3.75 this week, with strength in all primals. Weekly slaughter: At the end of the week, cattle slaughter was 593,000 head, down 15,000 on the week and down 21,000 for the year. Hog slaughter was 2.578 million head, up 19,000 from the previous week and up 217,000 on the year. Livestock slaughter: January beef production totaled 2.28 billion pounds, down 1.9% relative to one year ago. Beef cow slaughter was down 12.6% in January relative to one year ago. January pork production totaled 2.47 billion pounds, 2% above last year. Cattle on feed: The February Cattle on Feed inventory was 11.797 million head, up slightly from last year's level. January cattle placements were 1.792 million head, 7% below last year. Placements were four percentage points above the pre-report estimate. Pre-report estimates were expecting lower placements due to cold weather conditions in January limiting sales of feeder cattle. Next week's reports: ➡︎ Quarterly Ag Trade ➡︎ Restaurant Performance Index ➡︎ Cold Storage (delayed this week) Connect with us: ➡︎ X (formally Twitter): https://twitter.com/brownfield ➡︎ Facebook: https://www.facebook.com/BrownfieldAgNews ➡︎ YouTube: https://www.youtube.com/channel/UCBR7KnDynZ0hw7xF23dE94A Brownfield Ag News creates and delivers original content across multiple media platforms. Brownfield is the largest and one of the oldest agricultural news networks in the country carrying agricultural news, markets, weather, commentary and feature content. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Fed cattle and cash hog prices move higher this week | Weekly Livestock Market Update for 2/16/24

Brownfield Anchor/Reporter Meghan Grebner and University of Missouri Market Analyst Scott Brown give a weekly recap of the markets and discuss how it can impact farmers’ bottom lines. Learn more about what's happening in the agriculture markets here: https://brownfieldagnews.com/markets/ Find more agriculture news here: https://brownfieldagnews.com/ This week in the markets: Live fed cattle prices are $1.45 higher on the week, while feeder cattle prices were steady this week. April live cattle were up $0.85 on the week, and March feeder cattle were up $3.95 on the week while March corn futures were 14 cents lower this week. Choice box beef was unchanged this week and stood at $18.75 above the year-ago level. Cash hogs are up $1.50 this week. April lean hog futures were up $4.00 on the week. Pork cutout values were up $2.40 this week. Weekly slaughter: At the end of the week, cattle slaughter was 608,000 head, down 14,000 on the week and down 17,000 for the year. Hog slaughter was 2.559 million head, down 63,000 from the previous week and up 69,000 on the year. Retail prices: The choice retail beef price gained 6.7 cents in January 2024 relative to last month. This is 6.7% above the year-ago level. The retail price of pork fell 3 cents in January 2024 relative to last month and remained unchanged relative to the year-ago level. Bacon prices fell 2.4% over the past month. Consumer sentiment: The February consumer sentiment index gained 0.8% over last month's level and 19% above the year-ago level. Next week's reports: ➡︎ Livestock Slaughter ➡︎ Cattle on Feed ➡︎ Cold Storage Connect with us: ➡︎ X (formally Twitter): https://twitter.com/brownfield ➡︎ Facebook: https://www.facebook.com/BrownfieldAgNews ➡︎ YouTube: https://www.youtube.com/channel/UCBR7KnDynZ0hw7xF23dE94A Brownfield Ag News creates and delivers original content across multiple media platforms. Brownfield is the largest and one of the oldest agricultural news networks in the country carrying agricultural news, markets, weather, commentary and feature content. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Pork exports up 15% on the year | Weekly Livestock Market Update for 2/9/24

Brownfield Anchor/Reporter Meghan Grebner and University of Missouri Market Analyst Scott Brown give a weekly recap of the markets and discuss how it can impact farmers’ bottom lines. Learn more about what's happening in the agriculture markets here: https://brownfieldagnews.com/markets/ Find more agriculture news here: https://brownfieldagnews.com/ This week in the markets: Live fed cattle prices are $1.10 higher on the week, feeder cattle prices were $1 - $4 higher this week. April live cattle were up $2.60 on the week, and March feeder cattle were up $1.85 on the week. Choice box beef was down $1.30 this week, which is $26.40 above the year-ago level. Cash hogs are down $0.75 this week. April lean hog futures were down $2.55 on the week. Pork cutout values were down $2.40 this week on much weaker bellies. Weekly slaughter: At the end of the week, cattle slaughter was 622,000 head, down 15,000 on the week and down 6,000 for the year. Hog slaughter was 2.622 million head, down 70,000 from the previous week and up 147,000 on the year. Farm income: USDA’s current 2024 farm income estimate is down 25% from one year ago to $116 billion. USDA projects production expenses to be up nearly $17 billion relative to last year. Monthly trade data: December beef exports were 6% below year-ago levels. December shipments of pork were up 15% relative to this year a year ago. Supply and demand: USDA's largest change to livestock categories was to reduce beef net exports by 355 million pounds relative to its January estimate. USDA increased net pork exports by 230 million pounds from its January estimate. USDA raised fed steer prices and barrow and gilts prices by $2. Next week's reports: Retail Prices and Consumer Sentiment Connect with us: ➡︎ X (formally Twitter): https://twitter.com/brownfield ➡︎ Facebook: https://www.facebook.com/BrownfieldAgNews ➡︎ YouTube: https://www.youtube.com/channel/UCBR7KnDynZ0hw7xF23dE94A Brownfield Ag News creates and delivers original content across multiple media platforms. Brownfield is the largest and one of the oldest agricultural news networks in the country carrying agricultural news, markets, weather, commentary and feature content. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Weekly Livestock Market Update for January 26, 2024

Weekly Livestock Market Update for 12/22/2023

Weekly Livestock Market Update

Weekly Livestock Market Update for 12/08/23

Brownfield Anchor/Reporter Meghan Grebner and University of Missouri Market Analyst Scott Brown give a weekly recap of the markets and discuss how it can impact farmers’ bottom lines. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

USDA raises latest 2023 farm income estimate, but still down from 2022 levels | Weekly Livestock Market Update for 12/1/23

Brownfield Anchor/Reporter Meghan Grebner and University of Missouri Market Analyst Scott Brown give a weekly recap of the markets and discuss how it can impact farmers’ bottom lines. This week in the markets – Live fed cattle prices are $2.40 lower on the week, while feeder cattle prices were largely untested due to the Thanksgiving holiday. February live cattle were down $2.20 on the week, and January feeder cattle were down $5.30 on the week. Choice box beef was up $1.15 this week. Cash hogs are down $1.70 this week. February lean hog futures were up $0.90 on the week. Pork cutout values were virtually unchanged this week. Weekly Slaughter Numbers – At the end of the week, cattle slaughter was 635,000 head, up 97,000 on the week but down 25,000 for the year. Hog slaughter was 2.704 million head, up 479,000 from the previous week and up 121,000 on the year. Year-to-date cattle slaughter is down 4.7%, while hog slaughter is up 1.6%. Farm Income – USDA raised their 2023 farm income estimate by about $10 billion relative to their August estimate. This estimate remains more than $20 billion below the 2022 level. Livestock cash receipts are expected to decline by $13 billion in 2023 relative to 2022, despite an increase of more than $14 billion in cattle and calf receipts. Restaurant Performance Index - Decline for the third month in October -- due to a lower situation index. Customer traffic fell three points in October relative to September.   Quarterly Ag Trade Outlook – U.S. agricultural exports in FY24 have been lowered by $2.5 billion relative to the August forecast. FY24 livestock export value is estimated at $36.3 billion, a decline of $5.5 billion from the record FY22 level. Next week's reports – Monthly Trade Data, Jobs Report and WASDE Learn more about what's happening in the markets: https://brownfieldagnews.com/ag-markets/ See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Weekly Livestock Market Update 11/22/2023

Weekly Livestock Market Update for 11/18/2023

Brownfield Anchor/Reporter Meghan Grebner and University of Missouri Market Analyst Scott Brown give a weekly recap of the markets and discuss how it can impact farmers’ bottom lines. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

USDA report shows little change to livestock estimates | Weekly Livestock Market Update for 11/10/23

This week in the markets – Live fed cattle prices were $4.25 lower on the week, while feeder cattle prices were $1.00 to $5.00 lower this week. December live cattle were up $1.85 on the week, while January feeder cattle were up $4.25 on the week. Choice box beef was down $4.70 this week. Cash hogs were unchanged this week. December lean hog futures were up $1.45 on the week. Pork cutout values were up $1.70 this week on stronger bellies. Weekly Slaughter Numbers – At the end of the week, cattle slaughter was 617,000 head, down 11,000 on the week and down 45,000 for the year. Hog slaughter was 2.609 million head, up 47,000 from the previous week and up 54,000 on the year. Year-to-date cattle slaughter is down 4.5%, while hog slaughter is up 1.4%. WASDE – The USDA monthly report showed little changes to 2023 livestock estimates. 2024 beef production was increased by 0.5 billion pounds this month relative to October. USDA lowered its estimate of 2024 chicken production by 0.4 billion pounds this month. USDA made few changes to its 2024 estimates of livestock prices. Monthly Trade Data – September 2023 beef exports totaled 232 million pounds, a decline of nearly 50 million pounds relative to one year ago. Year-to-date beef exports are 2.3 billion pounds, nearly 400 million pounds below the same time last year. In September 2023, pork exports totaled 512 million pounds, virtually unchanged from the year-ago level. Year-to-date pork exports exceed the year-ago level by 331 million pounds. Consumer Sentiment – The November estimate of consumer sentiment fell by 5.3% relative to October. That marks four consecutive months of reduced consumer sentiment numbers. Consumer income outlook and war concerns continue to weigh on consumer sentiment. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Weekly Livestock Market Update for 11/03/23

Brownfield Anchor/Reporter Meghan Grebner and University of Missouri Market Analyst Scott Brown give a weekly recap of the markets and discuss how it can impact farmers’ bottom lines. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Weekly Livestock Market Update 10/27/2023

Weekly Livestock Market Update for 10/20/2023

Weekly Livestock Market Update for 10/13/2023

Weekly Livestock Market Update for 10/06/2023

Weekly Livestock Market Update for 9/29/2023

Weekly Livestock Market Update for 9/22/2023

Weekly Livestock Market Update for 9/15/2023

Weekly Livestock Market Update for 9/8/2023

Weekly Livestock Market Update for 9/1/2023

Weekly Livestock Market Update for 08/25/2023

Weekly Livestock Market Update for 8/18/2023

Weekly Livestock Market Update for 8/11/2023

Brownfield Anchor/Reporter Meghan Grebner and University of Missouri Market Analyst Scott Brown give a weekly recap of the markets and discuss how it can impact farmers’ bottom lines. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Weekly Livestock Market Update for 8/04/2023